STANDARD  OIL 


OR 


THE  PEOPLE 


BY 


HENRY  H.  KLEIN 


iZ/V^O''^^ 


l^^ 


STANDARD  OIL 


OR 


THE  PEOPLE 


THE  END  OF  CORPORATE 
CONTROL  IN  AMERICA 


BY 

HENRY   H.    KLEIN 

J? 

AUTHOR  OF 

"The  Looting  of  a  Great  City" 
"How  to  Prevent  Economic  Disaster  in  America' 


PUBLISHED    BY    THE    AUTHOR 

TRIBUNE     BUILDING 

NEW    YORK   CITY 


This  book  is  neither  socialistic   nor 
anarchistic  but  aims  to  protect  society 


Copyright,   19 14 

BY 

HENRY    H.    KLEIN 


All  rights  reserved,  including  translation  into  foreign  languages. 


PRICE      - 
BY  MAIL 


50  CENTS 
60  CENTS 


Restrict  Wealth -Power  in 
America  and  Restore  the 
Government  to  the  People 


3S87S4 


Limit  Private  Fortunes  and  Restore 
Prosperity  to  the  People 


"Save  your  pennies,"    says  John 
D.  Rockefeller. 

Is  there  anything  else  left  to  save  ? 


FOREWORD 


The  United  States  is  passing  through  an  economic 
crisis  which  means  freedom  or  slavery  to  the  people.  The 
present  hardship  is  due  to  the  fact  that  corporations,  not 
the  people,  controlled  the  government. 

Standard  Oil  has  been  the  chief  factor  in  the  affairs 
of  the  nation  and  conditions  are  largely  what  Standard 
Oil  made  them.  The  author  here  endeavors  to  tell  exactly 
what  these  conditions  are.  He  also  presents  a  program 
for  the  permanent  cure  of  "hard  times"  in  America. 

In  the  hope  that  this  cure  will  be  adopted  and  that 
prosperity  will  be  restored,  this  book  is  offered. 


Practical  men  are  speculating  to-day  on  the  possibility 
that  our  civilization  may  some  afternoon  be  Hashed  away 
by  the  tick  of  a  telegraph.  All  these  co-operations  can 
be  scattered  by  a  word  of  hate  too  many,  and  we  left, 
zi'-ith  no  one  who  knows  hozv  to  make  a  plough  or  a  match, 
a  civilization  cut  off  as  by  the  Roman  curse  from  food 
and  fire.  Less  sensitive  civilizations  than  ours  have  hurst 
apart.— Henry  Demarcst  Lloyd  in  ''Wealth  Against  Com- 
monwealth" {published,  1894). 


The  question  is  not  whether  monopoly  is  to  continue. 
The  sun  sets  every  night  on  a  greater  majority  against  it. 
We  are  face  to  face  zvith  the  practical  issue:  Is  it  to  go 
through  ruin  or  reform?  If  we  wait  to  be  forced  by 
events,  we  shall  be  astonished  to  find  how  viuch  more 
radical  they  are  than  Utopias.  Louis  XVI  waited  until 
1793  and  gave  his  head  and  all  his  investitures  to  the 
people  who  in  1789  asked  only  to  sit  at  his  feet  and  speak 
their  mind.  Unless  we  reform  of  our  own  free  will,  na- 
ture zvill  reform  us  by  force  qs  nature  does.  Our  evil 
causes  have  already  gone  too  far  in  producing  misery, 
plague,  hatreds,  national  enervation. — Henry  Demarest 
Lloyd  in  "Wealth  Against  Commonwealth." 


'After  me  the  Deluge." — Louis  XV. 


Then  came  the  French  revolution. 


SUMMARY  OF  HEADINGS 

Page 

President  Wilson  is  Urged  to   Check  the   Greed   of 

Standard    Oil 11 

The  Greed  of  Standard  Oil  is  Destroying  Economic 

Freedom   in   America 16 

How  Rockefeller  Became  the  King  of  Oil 22 

How  Rockefeller's  Fortune  is  Invested 23 

How  John  D.   Rockefeller,  Jr.,   Guards   His   Father's 

Investments     24 

John  D.   Rockefeller's  Principal   Financial  Agents...     28 

Standard  Oil  Controls  the  Principal  Railroads  in  the 
United  States  Through  William  Rockefeller 35 

What  the  Younger  Rockefellers  Represent 37 

Estate  of   Henry  H.   Rogers  Shows  Vast  Corporate 

Holdings     39 

John  D.  Archbold,  Active  Head  of  the  Oil  Trust. ...  41 
Wealth    of   the    Harknesses    Derived    from    Standard 

Oil    42 

The  Wealth  of  the  Pratts  is  Invested  in  Many  Enter- 
prises      43 

Oliver  H.  Payne's  Great  Fortune  from  Standard  Oil. .  45 

Tremendous  Standard  Oil  Wealth  of  the  Flaglers...  46 

The  Tilfords  Have  Vast  Standard  Oil  Possessions...  47 
The  Wealth  of  the  Wardens  Derived  from  Standard 

Oil  48 

Bedford  Millions  from  Standard  Oil  are  Widely  In- 
vested   49 

Standard  Oil  Made  Millionaires  of  the  Jennings 51 


SUMMARY    OF    HEADINGS— Continued 

Page 

Daniel  O'Day  Was  Active  for  Standard  Oil  in  Many 

Corporations    52 

The  Wealth  of  the  Pouch  Family  is  Invested  Around 

New    York 53 

Standard  Oil  Has  Made  Millions  for  the  Warings. ...     54 

Others  Who  Are  Active  and  Influential  for  Standard 

Oil   55 

How  the  Bostwick-Standard  Oil  Fortune  Grew 59 

Standard  Oil  Money  is  Invested  in  Other  Large  Cor- 
porations        60 

Public    Service    Corporations    Controlled    by    Rocke- 
feller and  Standard  Oil 64 

Standard  Oil  Controls  the   Business  and   Politics   of 

Pennsylvania   68 

The  Famous  Dolan-Widener-Elkins  Syndicate 72 

Marston  and  Bayne,  Important  Standard  Oil  Bankers.     75 

Other  Corporations  in  Which  Standard  Oil  Beneficia- 
ries are  Factors 77 

The  Standard  Oil-Henry  H.  Rogers  Combination....     80 

Largest    Private    Fortunes    in    America    are    Linked 
With  Standard  Oil 82 

Two  Hundred  Million  Dollars  of  Standard  Oil  Money 

Invested  in  New  York  City 85 

Everything  for  Standard,  Nothing  for  the  People....     90 

The  Business  of  America  is  Controlled  by   Standard 

Oil   92 

The    Economic    Destruction    of    America    Repeatedly 
Foretold    94 

Standard  Oil  Controls  the  Basis  of  Modern  Civiliza- 
tion     ^ 98 

Standard  Oil  Corrupted  Politics  in  America 100 

Is  Modem  Civilization  Right? 102 


SUMMARY   OF   HEADINGS— Continued 

Page 

Has  Civilization  Reached  a  Climax 103 

The  Decline  of  America  Due  to  the  Greed  of  Corpo- 
rate Monopolies  104 

Private  Wealth  Must  be  Redistributed  in  Order  that 
Civilization  May  be  Preserved 106 

Restriction  of  Private  Fortunes  Only  Can  Avert  Con- 
fiscation      108 

Suppose  Rockefeller's  Fortune  Were  Limited  to  Ten 
Million  Dollars?  Ill 

Excess  Private  Fortunes  Could  be  Used  to  Pay  Off 
City,  State  and  National  Debts 113 

Government  Control  Only  Can  Prevent  Exaction  by 
Private    Monopoly 115 

How  Standard  Oil  Has  Grown  with  Extraordinary 
Profits   116 

Direct  Oil  Trust  Holdings  as  Disclosed  by  Court 
Records   123 

Principal  Stockholders  in  Standard  Oil 126 

Monopolies  Controlled  by  Standard  Oil 128 

Standard  Oil  is  Asked  to  Help  Start  New  Cities  to 
Draw  Off  the  Surplus  of  Population  from  New 
York   130 

One  Hundred  Families  Who  Own  Half  the  Wealth  in 
the  United  States 134 


PRESIDENT  WILSON  IS  URGED  TO  CHECK 
THE  GREED   OF  STANDARD   OIL. 

April   II,   1914. 

HONORABLE  WOODROW  WILSON, 

President  of  the  United  States. 

Respected  Sir: 

In  view  of  the  fact  that  the  nation  languishes  under 
the  spell  of  industrial  depression  and  that  continued  "hard 
times"  means  ultimate  financial  disaster,  I  urge  you  as 
chief  executive  of  the  nation  to  act  in  the  emergency.  The 
economic  life  of  the  nation  is  being  crushed  out  by  the 
greed  of  those  who  control  its  industries  and  finance. 

The  chief  factor  in  this  oppression  is  Standard  Oil, 
the  growth  of  which  during  the  past  forty-five  years  has 
imposed  a  hardship  on  the  people.  During  that  period, 
Standard  Oil  has  distributed  $800,000,000  in  dividends  to 
its  stockholders  and  the  value  of  its  shares  has  increased 
from  $1,000,000  to  $1,300,000,000.  Its  annual  profits  are 
$150,000,000,  the  bulk  of  which  is  derived  by  less  than 
twenty  persons  who  own  a  majority  of  the  stock. 

Standard  Oil  and  its  beneficiaries  are  in  control  of  the 
principal  railroads,  mines  and  public  utilities.  They  are 
the  leading  stockholders  in  most  large  industrial  corpor- 
ations and  they  control  the  principal  banks  and  other 
financial  institutions.  With  such  power,  the  business  of 
the  nation  is  virtually  in  the  hands  of  Standard  Oil. 

Standard  Oil  beneficiaries  have  fully  ONE  BILLION 
DOLLARS  invested  in  other  than  Standard  Oil  securi- 
ties. Their  profits  from  these  investments  exceed  $100,- 
000,000  a  year  and  this  sum  with  $150,000,000  from  Stand- 
ard Oil,  must  be  reinvested  each  year.  /;/  a  few  years  at 
the  present  rate  of  profit-taking.  Standard  Oil  i^ill  own 
practically  everything  of  value  in  the  United  States.     It 


12  ^  STANDARD    OIL 

controls  the  newspapers  through  the  advertising  coliinins 
and  it  maintains  an  influence  over  education  and  religion 
through  the  colleges  which  its  beneficiaries  endow  and  the 
churches  and  ministers  they  support  and  pension. 

In  the  face  of  these  facts,  an  economic  crisis  confronts 
the  nation.  Big  business  has  been  permitted  to  develop 
on  the  theory  that  vast  combinations  in  trade  would  ben- 
efit the  people.  The  result  is  directly  opposite.  Instead 
of  a  reduction  in  the  cost  of  living  the  price  of  commodi- 
ties has  been  increased  to  provide  excess  profits  on  grossly 
inflated  capital. 

The  concentration  of  business  in  the  hands  of  a  few 
men  has  produced  a  grave  social  inequality,  the  effect  of 
which  the  people  are  now  trying  to  overcome.  Every 
trust  that  has  been  created  has  imitated  Standard  Oil  by 
crushing  independence  and  destroying  competition  in  busi- 
ness. Twenty  years  ago  the  small  tradesman  earned  a 
comfortable  living  and  was  the  backbone  of  the  nation's 
prosperity.  To-day  he  is  the  suppliant  of  the  large  cor- 
porations and  unable  to  support  himself  by  independent 
means.  The  fault  lies  with  the  government,  not  with  the 
people. 

If  the  trusts  are  an  economic  development  of  the  times, 
the  nation  must  assume  responsibility  for  their  existence. 
It  must  provide  refuge  for  honest  men  unable  to  find 
employment  or  to  establish  themselves  in  business.  The 
Dutch  East  India  Company  and  other  early  exploration 
enterprises  were  aggressive,  but  their  greed  did  not  de- 
stroy the  freedom  of  a  nation.  There  are  more  Dutch 
East  India  Companies  operating  in  America  to-day  than 
existed  at  any  other  period  in  history ;  and  they  have  rav- 
ished the  country. 

Under  the  code  devised  by  those  in  commercial  con- 
trol, the  present  era  is  one  of  the  "survival  of  the  fittest." 
This  assertion  is  untrue  if  based  on  the  result  of  the  past 
fifty  years.  The  "fittest"  have  not  been  permitted  to  sur- 
vive;  only  the   most   avaricious   have   flourished.      Their 


OR    THE    PEOPLE  13 

success  is  due  mainly  to  an  utter  disregard  of  the  law 
and  to  depravity  in  business.  They  have  subverted  the 
cause  of  honesty  and  fair  dealing. 

John  D.  Rockefeller  did  not  excel  because  he  produced 
a  better  oil  or  worked  harder  as  a  refiner.  He  outstripped 
his  rivals  because  of  secret  railroad  rebates  which  en- 
abled him  to  undersell  and  drive  them  out  of  business. 
Honorable  men  do  not  resort  to  such  base  business 
methods. 

A  halt  must  be  called  to  the  greed  of  Standard  Oil 
before  it  is  too  late.  The  nation  is  impoverished  and  the 
warning  of  other  countries  should  suffice.  In  Sparta  eight 
hundred  years  before  Christ,  wealth  was  concentrated  and 
the  people  poor.  Lycurgus,  the  lawgiver,  redistributed 
private  property  and  provided  common  eating  places  for 
all  the  people.  Such  a  redistribution  is  impossible  in 
America  to-day. 

In  Athens,  five  hundred  years  before  Christ,  Solon  re- 
distributed the  wealth  of  the  people,  and  in  Rome  during 
the  second  century  before  the  Christian  era,  a  similar 
redistribution  was  attempted  by  the  Gracchi.  France  was 
convulsed  one  hundred  and  twenty-five  years  ago,  because 
the  people  undertook  their  own  resuscitation. 

Such  a  step  must  be  avoided  in  America.  A  redistri- 
bution is  necessary,  but  it  must  come  in  a  peaceful  man- 
ner. Those  who  own  great  wealth  must  be  made  to  realize 
that  the  safety  of  the  nation  depends  on  their  acquiescence 
in  the  outcome. 

The  United  States  is  threatened  with  internal  disorder 
as  well  as  with  foreign  complications.  This  nation  must 
not  be  involved  in  international  conflict.  Industrial  de- 
pression at  home  must  be  cured  so  that  peace  and  pros- 
perity may  again  reign.  There  is  but  one  way  to  brinr; 
this  about.  The  nation  must  become  the  principal  stocfi- 
holder  in  most  large  corporations. 

This  result  can  be  accomplished  without  the  cost  of  a 
dollar  to  the  people.     If  the  nation,  through  constitutional 


14  STANDARD    OIL 

enactment,  limits  private  wealth  to  $10,000,000,  all  in  excess 
of  that  sum  is  transferred  back  to  the  people.  The  natioi] 
becomes  the  principal  stockholder  in  most  of  the  rail- 
roads, mines  and  industrial  corporations,  as  well  as  ir 
most  of  the  banks  and  other  financial  institutions.  The 
nation  also  comes  into  possession  of  a  vast  amount  of  gov- 
ernment, state  and  city  bonds  which  can  be  cancelled  a1 
once  to  relieve  the  burden  of  public  debt. 

As  the  principal  stockholder  in  most  large  corporations 
the  nation  has  no  further  need  for  excess  profits  and  the 
cost  of  commodities  is  reduced.  The  cost  of  transporta- 
tion is  also  diminished  as  are  the  tolls  of  all  public  service 
corporations.  The  railroads  once  more  become  the  high- 
zvays  of  the  people  instead  of  instruments  of  public  op- 
pression. 

This  remedy  if  adopted  will  prevent  further  hardship 
in  America.  The  struggle  for  existence  is  acute  and  the 
vitality  of  the  people  almost  exhausted.  The  bulk  of  th< 
people  are  poor  and  out  of  work  and  the  income  of  Johr 
D.  Rockefeller  is  $70,000,000  a  year. 

This  remedy  is  urged  so  that  you  may  see  in  it  a  cun 
for  economic  ills;  that  you  may  exert  the  great  power  o\ 
your  office  to  secure  its  adoption.  The  opportunity  is  rip« 
for  a  federal  investigation  of  the  cause  of  "hard  times' 
and  of  the  effect  of  great  corporations  on  the  people.  The 
effect  of  Standard  Oil  and  other  monopolies  must  be  de- 
termined. A  commission  could  sit  during  the  sumniei 
and  have  its  report  ready  before  Congress  reconvenes. 

I  hope  that  this  letter  wnll  accord  with  your  views  anc 
that  a  federal  investigation  will  be  instituted.  To  thai 
end  I  have  gathered  a  mass  of  important  and  necessar) 
data.  The  records  of  Congress  contain  valuable  informa- 
tion that  could  be  availed  of.  The  testimony  taken  in  the 
trust  prosecutions  have  an  important  bearing  on  the  con- 
ditions to-day. 

I  hope  that  you  will  see  the  necessity  for  a  federa 
inquiry   and  that   you  will   urge   such   a   commission   or 


OR    THE    PEOPLE  Ij 

Congress.  The  work  I  have  in  mind  might  be  undertaken 
by  the  new  industrial  commission  which  you  propose.  I 
will  be  glad  to  co-operate  with  such  a  body. 

Hoping  to  hear  from  you  on  the  subject,  I  am,  with 
respect, 

Very  truly  yours, 

Henry  H.  Klein. 


tf  STANDARD    OIL 


THE  GREED   OF  STANDARD   OIL  IS  DE- 
STROYING ECONOMIC  FREEDOM 
IN  AMERICA. 

Three  hundred  thousand  men  and  women  are  out  of 
work  in  Greater  New  York  out  of  a  total  working  popu- 
lation of  less  than  two  million. 

Three  million  people  are  out  of  work  in  the  United 
States  out  of  a  total  working  population  of  twenty  mil- 
lion. 

Six  hundred  million  dollars  borrowed  on  life  insurance 
out  of  a  total  reserve  fund  of  less  than  three  billion  (a 
greater  debt  than  ever). 

And  more  business  failures  due  to  "hard  times"  than 
ever  before  in  the  land ! 

All  because  a  few  "great"  men  needed  a  panic  in  1907 
to  possess  themselves  of  wealth  belonging  to  other  and 
because  "big  business"  coveted  the  riches  of  other,  smaller, 
concerns.     The  "panic"  achieved  both  ends. 

There  is  little  or  no  "come  hack"  left  in  the  nation 
to-day,  because  the  few  who  had  great  wealth  have 
acquired  virtually  everything  of  value.  They  own  the 
principal  railroads,  mines  and  public  utilities,  and  they 
own  the  leading  industries.  They  own  even  the  money 
of  the  people,  through  the  hanks  and  other  -financial  insti- 
tutions which  they  maintain. 

Such  is  the  condition  in  America  to-day  that  a  large 
part  of  every  dollar  spent  goes  back  to  these  few  rich 
men  and  only  a  small  portion  of  it  remains  with  the  people. 
For  that  reason  there  is  no  prosperity  for  the  masses. 

Standard  Oil  is  the  chief  beneficiary  under  present 
strangling  conditions.  It  produces  $150,000,000  each 
year  for  the  benefit  of  its  stockholders  and  this  money  is 
constantly  reinvested.     In  a  few  years,  at  the  present  rate 


OR    THE    PEOPLE  17 

of  profit-taking,  they  mill  own  everything  of  value  in  the 
United  States.     They  own  most  of  it  now. 

At  least  a  score  of  Standard  Oil  families  are  worth 
more  than  $25,000,000  each,  acquired  during  the  past 
thirty  years,  and  some  of  them  have  from  $50,000,000  to 
to  $250,000,000.  John  D.  Rockefeller's  private  wealth  is 
estimated  at  $900,000,000,  and  it  may  exceed  one  thousand 
million  dollars  if  fully  determined! 

This  is  the  greatest  fortune  ever  accumulated  by  a 
single  individual  in  a  life  time,  and  its  power  is  greater 
than  that  of  the  government.  The  total  amount  of  money 
in  circulation  in  this  coutry  is  not  more  than  three  billion, 
five  hundred  million  dollars,  and  John  D  Rockefeller's 
personal  wealth  is  about  two-sevenths  of  that  sum ! 

The  fortune  of  William  Rockefeller  is  second  only  to 
that  of  his  brother  John.  It  is  estimated  at  $250,000,000. 
He  and  Henry  H.  Rogers  were  in  full  command  of  the 
forces  of  Standard  Oil  until  1909,  when  Rogers  died. 
They  plunged  heavily  into  speculation  and  their  profits 
on  copper  alone  are  estimated  by  Thomas  W.  Lawson  at 
more  than  forty  million  dollars.  John  D.  Rockefeller 
withdrew  from  direct  management  of  the  oil  trust  about 
fifteen  years  ago. 

William  Rockefellers  holdings  in  the  oil  trust  are  by 
no  means  as  large  as  those  of  his  brother,  or  even  of 
other  members  of  the  Standard  Oil  family.  While  John  is 
owner  of  record  of  more  than  one-quarter  of  the  oil  trust 
stock,  William  is  credited  with  11,700  shares,  or  only  1.17 
percent  of  the  entire  capital. 

John  D.  Rockefeller's  holdings  are  247,692  shares  out 
of  a  total  capitalization  of  983.383,  and  since  the  latest 
"dissolution"  of  the  trust.  Rockefeller's  holdings  have  been 
split  up  among  the  thirty-three  constituent  corporations. 
Each  of  these  subsidiaries  owns  many  subordinate  com- 
panies and  their  profits  are  greater  than  ever. 

The  second  largest  holdings  in  Standard  Oil  are  those 
of  the  Harknesses,  who,  in   1907,  before  the  latest  disso- 


18  STANDARD    OIL 

lution  suit,  held  70,500  shares,  or  7.05  percent  of  the  cap- 
ital. The  wealth  of  the  Harknesses  is  estimated  at  $100,- 
000,000.  The  Pratts  hold  57,802  shares,  and  their  wealth 
is  placed  at  $75,000,000 ;  Oliver  H.  Payne's  at  $75,000,000 ; 
Flagler's,  $70,000,000;  Archbold,  $50,000,000,  and  the 
Pouchs,  Bedfords,  Tilfords,  Bostwicks,  Severance,  Hous- 
ton, Warden,  Moffett,  Vandergrift  Huntington  Macy, 
Jennings  and  Logan,  from  $5,000,000  to  $50,000,000  each, 

Henry  H.  Rogers  left  $50,000,000  when  he  died,  and 
the  fortunes  of  F.  Q.  Barstow,  Daniel  O'Day  and  other 
early  associates  in  the  oil  trust,  are  many  times  a  million 
dollars.  The  smallest  holder  of  Standard  Oil  stock  since 
1870,  before  the  trust  was  organized,  is  worth  at  least  one 
million  dollars  to-day  since  each  $100  share  of  the  original 
capital  of  $1,000,000  has  grown  to  $130,000  on  the  market, 
the  total  market  value  of  all  Standard  Oil  securities  being 
f^T  300,000,000. 

Samuel  Andrews,  who  started  in  the  oil  refining  busi- 
:iess  with  Rockefeller  in  1865,  retired  from  the  business  in 
1880  (before  the  trust  was  formally  organized)  with 
$955,000  cash.  His  stock  in  Standard  Oil  was  immediately 
resold  for  $1,225,000.  The  profits  of  the  oil  trust  since 
1880  have  grown  from  $10,000,000  to  more  than  $150,- 
000,000  a  year ! 

In  all,  Standard  Oil  has  thus  far  produced  more  than 
TWO  BILLION  DOLLARS  for  those  who  are  the  fortu- 
nate possessors  of  its  stock,  cash  dividends  of  $800,000,000 
having  been  distributed. 

Besides  the  thirty-three  constituent  companies  in  the 
trust  according  to  the  dissolution  decree.  Standard  Oil 
owns,  through  its  officers  and  directors,  many  other  cor- 
porations. At  least  100  separate  oil  companies  have  been 
bought  up  and  many  times  that  number  put  out  of  busi- 
ness so  that  the  oil  trust  might  flourish  and  maintain  its 
monopoly. 

John  D.  Rockefeller's  income  from  Standard  Oil  is 
estimated  at  $40,000,000  a  year.     His  share  of  cash  divi- 


OR    THE    PEOPLE  19 

dends  to  date  exceeds  $200,000,000.     On  the  basis  of  the 
present  market  value,  his  stock  is  worth  fully  $300,000,000. 

WITHOUT  A  SHARE  OF  STANDARD  OIL 
STOCK,  JOHN  D.  ROCKEFELLER  IS  THE  RICH- 
EST MAN  IN  THE  WORLD,  OWNING  MORE 
FIRST  MORTGAGE  RAILROAD  BONDS  THAN 
THE  TOTAL  WEALTH  OF  ANY  OTHER  INDI- 
VIDUAL! And  he  ozvns  enough  of  the  securities  of 
public  service  corporations  to  make  him  the  most  formid- 
able factor  in  the  business  life  of  America! 

If  John  D.  Rockefeller  willed  it  and  his  wishes  were 
carried  out,  not  a  car  would  move  in  most  cities  and  not 
a  railroad  wheel  would  be  turned.  He  could  cut  off  the 
light  and  power  in  every  large  city  and  night  would  be 
hideous  darkness  without  Rockefeller  illumination.  He 
could  cut  off  the  motive  power  of  nearly  every  business 
concern ! 

Rockefeller's  profits  from  public  service  corporations 
can  fairly  be  guessed  at  when  it  is  known  that  the  people 
in  the  cities  pay  more  than  one  billion  dollars  a  year  for 
light,  heat  and  local  transportation  and  that  Rockefeller 
and  Standard  Oil  own  the  largest  share  in  most  of  these 
corporations! 

In  New  York  City  alone,  the  total  sum  paid  to  public 
service  corporations  each  year  is  $152,000,000,  and  John  D. 
Rockefeller  is  the  largest  individual  shareholder.  This 
sum  is  equal  to  the  amount  collected  each  year  in  taxes 
to  maintain  the  cost  of  municipal  government,  the  balance 
being  made  up  by  income  on  public  property. 

Standard  Oil  has  reached  all  over  the  world  for  in- 
vestment and  power  and  its  influence  in  other  countries 
is  almost  as  great  as  in  the  United  States.  It  recently 
formed  a  business  partnership  with  the  Chinese  govern- 
ment under  which  it  will  exploit  the  mineral  resources  of 
a  large  part  of  China.  It  has  already  taken  millions  of 
dollars  profit  out  of  that  country  and  its  investments  there 
now  exceed  $20,000,000.     Its  shareholders  are  lending  the 


20  STANDARD    OIL 

Chinese  government  $20,000,000  to  finance  an  engineering 
contract  with  an  affiliated  company. 

Standard  Oil  spent  $5,500,000  recently  for  more  oil 
lands  in  Mexico,  where  it  purchased  the  property  of  the 
Maderos,  and  it  paid  $9,000,000  for  oil  lands  in  Louisiana 
a  few  years  ago. 

Standard  Oil  has  more  than  $200,000,000  invested  in 
countries  outside  the  United  States,  and  its  influence  and 
investments  are  constantly  growing!  Her  Heet  of  ocean- 
going vessels  is  larger  than  the  United  States  navy,  and 
when  ships  are  running  through  the  Panama  Canal, 
Standard  Oil  will  supply  them  with  fuel  oil  from  a  pipe 
line  stretched  across  the  Isthmus. 

As  a  financial  factor,  Standard  Oil  is  the  greatest 
pozver  in  the  civilised  zvorld.  The  combined  wealth  of 
Rockefeller  and  his  associates  is  greater  than  that  of  the 
Rothschilds,  and  it  has  been  produced  in  only  one  genera- 
tion. Their  influence  is  suificient  to  overthrow  the  gov- 
ernment and  destroy  civilisation  itself ! 

Even  the  mighty  Morgan  was  subordinate  to  Standard 
Oil  during  the  latest  years  of  his  life,  no  large  financial 
undertaking  being  possible  without  their  co-operation  or 
support.  Harriman,  Brady  and  Whitney  were  all  part  of 
the  Standard  Oil  money-making  machine.  Not  one  of 
them  could  survive  a  large  financial  transaction  without 
Standard  Oil  backing.  Ryan,  Dolan,  Widener  and  Elkins, 
traction  and  gas  magnates,  were  part  of  the  Standard  Oil 
combination,  and  even  the  mighty  James  J.  Hill,  in  the 
great  northwest,  must  bow  to  the  will  of  Rockefeller. 

THERE  HAS  BEEN  NO  SUCH  POWER  IN  ALL 
THE  CIVILIZED  WORLD  AS  THAT  POSSESSED 
BY  STANDARD  OIL,  AND  THE  QUESTION  NOW 
IS  WHAT  CAN  BE  DONE  TO  RESTORE  THE  BAL- 
ANCE IN  AMERICA.  STANDARD  OIL  AND 
ROCKEFELLER  DOMINATE  THE  BUSINESS  LIFE 
OF  THE  COUNTRY.  THEY  CONTROL  EDUCA- 
TION THROUGH  THE  COLLEGES  THEY  ENDOW 


OR   THE    PEOPLE  ai 

AND  THEY  GUIDE  THE  AFFAIRS  OF  RELIGION 
THROUGH  THE  CHURCHES  THEY  SUPPORT 
AND  THE  MINISTERS  THEY  PENSION.  THEY 
CONTROL  EVEN  THE  VOICE  OF  THE  PRESS 
THROUGH  THE  POWER  OF  ADVERTISING.  AND 
NO  NEWSPAPER  OR  MAGAZINE  CAN  SURVIVE 
WITHOUT  THEIR  FAVOR. 

Under  such  circumstances,  what  must  be  done  to  save 
the  nation  from  disaster? 


22  STANDARD    OIL 


HOW    ROCKEFELLER    BECAME   THE 
KING    OF    OIL. 

"The  oil  business  is  mine,"  said  John  D.  Rockefeller 
when  he  started  to  crush  his  rivals  in  the  refining  business 
in  Cleveland  forty-five  years  ago.  He  obtained  secret 
rebates  from  the  railroads  and  "drawbacks"  on  rival 
shipments.  By  this  means  he  was  soon  able  to  buy  out 
most  of  his  rivals,  and  those  he  didn't  buy  were  crushed 
out  by  railroad  "pressure." 

Standard  Oil  is  what  it  is  to-day  because  it  has  been 
able  to  "get  away  with  the  goods"  since  that  time,  in  spite 
of  every  effort  made  to  check  its  greedy  and  destructive 
course.  Thousands  of  oil  men  suffered  through  Standard 
Oil  rapacity  and  the  oil  fields  of  Pennsylvania  and  else- 
where are  strewn  with  the  wrecks  of  Rockefeller  greed 
and  violence.  Each  squeeze  meant  only  added  gain  for 
Rockefeller  and  Standard  Oil  profits  always  leaped  higher. 

Legislatures  in  a  dozen  states  failed  to  stop  the  aggres- 
sions of  the  oil  trust  and  each  investigation  only  stimu- 
lated its  progress  and  power.  The  trust  has  been  twice 
broken  up  by  decree  of  the  highest  court,  and  to-day 
Standard  Oil  is  richer  and  mightier  than  ever,  in  spite  of 
these  "dissolutions."  The  assets  of  Standard  Oil  are  a 
thousand  times  greater  than  they  were  forty  years  ago, 
and  the  wealth  of  its  beneficiaries  is  beyond  anything 
dreamed  of  at  that  time.  Not  even  Rockefeller  thought 
such  riches  possible. 


OR    THE    PEOPLE  23 

HOW   ROCKEFELLER'S   FORTUNE   IS 

INVESTED. 

John  D.  Rockefeller  is  the  largest  individual  stock- 
holder in  the  Manhattan  Elevated  Railroad,  which  owns 
all  the  elevated  lines  in  Manhattan  and  the  Bronx.  The 
company  is  capitalized  at  $60,000,000  and  seven  percent 
dividends  are  guaranteed  by  the  Interboro  Company.  The 
franchise  of  the  Manhattan  "L"  is  perpetual. 

Rockefeller  is  also  the  principal  stockholder  in  the 
Consolidated  Gas  Company,  which  owns  every  lighting 
company  in  Greater  New  York  and  serves  five  and  a  half 
million  people;  and  he  is  also  interested  in  the  bonds  of 
the  surface  and  underground  railways. 

The  assets  of  the  various  gas  and  electric  light  com- 
panies in  New  York  City  exceed  $550,000,000,  created 
largely  out  of  earnings.  When  the  price  of  gas  was 
ordered  reduced  from  $1.25  to  $1.00  and  to  80  cents  per 
thousand  cubic  feet,  the  companies  protested  they  would 
be  ruined.  They  have  thrived  on  80-cent  gas  and  their 
profits  are  enormous  on  actually  invested  capital.  The 
same  condition  is  true  with  regard  to  the  electric  light 
companies  controlled  by  Rockefeller.  Their  rates  are  ex- 
orbitant. 

John  D.  Rockefeller  is  heavily  interested  in  most  of 
the  large  industrial  corporations  and  railroads,  and  his 
influence  is  potent  in  all  their  affairs.  He  owns  govern- 
ment, state  and  city  bonds  in  large  amounts  and  now  that 
the  income  tax  includes  railroad  bonds,  a  large  share  of 
his  income  will  be  invested  in  exempt  government  secu- 
rities. He  owns  many  valuable  parcels  of  real  estate  in 
the  City  of  New  York  and  in  Cleveland  and  he  owns  mort- 
gages in  the  latter  city  which  in  1900  were  estimated  at 
$10,000,000.  He  also  owns  a  large  part  of  the  lake  front 
in  that  city  of  exceptional  value  for  shipping,  and  he  owns 
a  vast  estate  at  Pocantico  Hills,  N.  Y. 


24  STANDARD    OIL 


HOW  JOHN  D.  ROCKEFELLER,  JR.   GUARDS 
HIS   FATHER'S   INVESTMENTS. 

John  D.  Rockefeller's  investments  in  industrial  cor- 
porations are  looked  after  by  his  son  John  D.,  Jr.,  and  by 
others  who  have  been  close  to  him  for  years.  John  D., 
Jr.,  is  director  in  the  American  Linseed  Oil  Company,  the 
"linseed  trust,"  capitalized  at  $34,000,000.  This  company 
controls  the  output  and  the  price  of  its  product  in  the 
United  States.  With  him  as  director  in  this  corporation 
are  Starr  J.  Murphy,  Rev.  Frederick  T.  Gates,  E.  Par- 
malee  Prentice  and  George  Welwood  Murray,  all  im- 
portant Rockefeller  agents.  Prentice  is  Rockefeller's  son- 
in-law  and  Murray,  his  private  attorney. 

Others  in  this  corporation  who  are  close  to  the  Rocke- 
feller throne  are  Henry  E.  Cooper,  Vice-President  of  the 
Equitable  Trust  Company,  Charles  O.  Heydt  and  Edward 
V.  Gary.  Gary  is  John  D.  Rockefeller's  private  secretary, 
and  Heydt  is  part  of  the  Standard  Oil  family  at  No.  26 
Broadway. 

Young  Rockefeller,  Cooper  and  Murphy  are  directors 
in  the  Colorado  Fuel  and  Iron  Company,  a  $64,000,000 
corporation,  and  young  Rockefeller,  Murphy  and  Gates  arc 
directors  of  the  General  Education  Board  through  which 
Rockefeller  dispenses  gifts  to  educational  institutions. 

Young  Rockefeller  is  a  controlling  factor  in  the  Dela- 
ware, Lackawanna  and  Western  Railroad,  which  owns 
400,000,000  tons  of  unmined  coal  in  Pennsylvania  worth 
more  than  half  a  billion  dollars,  and  has  other  assets  of 
$70,000,000.  John  D.  Jr.  is  a  member  of  the  Board  of 
Managers  of  this  railroad,  in  which  a  large  share  of  the 
fortune  of  the  late  Joseph  Pulitzer  is  invested. 

William  Rockefeller  is  also  a  manager  of  this  road 
as  well   as  a  member  of  its  executive  committee.     The 


OR    THE    PEOPLE  25 

stocks  of  the  corporation  are  quoted  at  $400  a  share, 
making  the  capital  of  $30,000,000  worth  $120,000,000  on 
the  market.  The  road  pays  20  percent  annual  dividend 
and  distributed  an  extra  cash  dividend  of  50  percent  to  its 
stockholders  in  1909. 

John  D.  Rockefeller,  Jr.,  is  director  in  the  Merchants' 
Fire  Assurance  Corporation  of  New  York,  capitalized  at 
$200,000,  and  he  is  trustee  of  the  University  of  Chicago, 
which  disseminates  learning  with  a  Rockefeller  endow- 
ment of  $23,000,000.  Rev.  Gates  and  Starr  J.  Murphy 
are  also  trustees  of  this  institution. 

Young  Mr.  Rockefeller  was  director  in  the  Lake  Su- 
perior Consolidated  Iron  Mines,  which  his  father  sold  to 
the  steel  trust,  and  he  was  director  in  the  steel  trust  itself. 
His  father  and  Henry  H.  Rogers  were  also  steel  trust 
directors.  John  D.  Rockefeller's  profit  out  of  the  sale  of 
the  consolidated  mining  property  to  the  steel  trust  was 
approximately  $50,000,000.  Mr.  Rockefeller  also  sold  his 
interest  in  the  Federal  Steel  Co.  to  the  steel  trust  for  many 
millions  more. 

Young  Rockefeller  was  director  in  the  National  City 
Bank,  the  principal  Rockefeller  financial  institution;  Fed- 
eral Mining  and  Smelting  Co.,  a  $20,000,000  corporation; 
Missouri,  Kansas  and  Texas  Railroad,  with  assets  of 
$250,000,000;  Standard  Oil  Company  of  New  Jersey,  the 
holding  company  of  the  trust,  and  the  New  York  Produce 
Exchange  Safe  Deposit  and  Storage  Company. 

7A^  ALL  YOUNG  ROCKEFELLER  HAS  REPRE- 
SENTED HIS  FATHER  LN  CORPORATIONS 
WHOSE  CAPITAL  OR  ASSETS  AGGREGATE 
SEVERAL  BILLION  DOLLARS. 

Besides  these  various  business  enterprises,  young 
Rockefeller  is  engaged  in  other  ventures  of  an  entirely 
different  nature.  The  Rockefeller  interests  in  New  York 
City  are  larger  than  anywhere  else  in  the  world,  and 
young  Rockefeller  is  trying  to  serve  them  through  Mayor 


26  STANDARD    OIL 

Mitchel  and  Chamberlain  Henry  Bruere,  the  latter  having 
been  director  of  the  Bureau  of  Municipal  Research  before 
he  entered  public  office.  The  Bureau  spends  $100,000  a 
year,  and  among  its  most  liberal  contributors  are  John 
D.  Rockefeller,  Jr.,  Frank  A.  Vanderlip,  President  of  the 
Rockefeller-National  City  Bank;  George  B.  Cortelyou, 
President  of  the  Consolidated  Gas  Company,  Edward  V. 
Harkness  and  others  closely  affiliated  with  Standard  Oil. 

Young  Rockefeller  is  keenly  interested  in  the  morality 
of  the  city,  having  spent  $200,000  through  his  own  vice 
society,  with  the  aid  of  the  district  attorney  in  New  York 
and  Chicago,  to  determine  the  extent  of  the  ''white  slave" 
traffic;  and  he  devoted  $25,000  of  his  father's  funds, 
through  the  Bureau  of  Municipal  Research,  to  investigate 
the  police  of  the  city  in  conjunction  with  the  counsel  for 
the  aldermanic  committee. 

Young  Mr.  Rockefeller  also  sent  Raymond  Fosdick  to 
Europe  to  study  the  police  abroad,  and  he  and  his  asso- 
ciates contributed  liberally  to  Mayor  Mitchel's  campaign 
fund  when  the  latter  ran  for  office  in  the  fall  of  1913. 
Mr.  Rockefeller's  personal  contribution  was  $5,000.  All 
of  which  shows  to  what  extent  the  Rockefellers  are  in- 
terested in  the  welfare  of  the  people  of  the  City  of  New 
York,  out  of  whom  they  receive  millions  of  dollars  a  year 
profit ! 

Among  the  various  parcels  of  real  estate  which  young 
Rockefeller  and  his  father  own  are  Nos.  4,  10,  13,  14,  16, 
and  19  West  54th  street;  Nos.  737  to  747  Tenth  avenue, 
and  Nos.  125  and  127  West  55th  street.  They  also  own 
from  64th  to  67th  streets  and  from  Avenue  A  to  the  East 
River,  where  the  Rockefeller  Institute  for  Medical  Re- 
search is  located,  and  No.  680  Fifth  avenue,  where  a  ten- 
story  apartment  house  will  be  erected. 

Starr  J.  Murphy  is  President  of  the  Abeyton  Realty 
Co.,  which  owns  Nos.  117  and  119  East  113th  street,  and 
the  Rockefellers  also  own  the  Forty-fifth  Street  Realty 
Company,  which  owns  Nos.  7,  9  and  11  West  45th  street, 


OR    THE    PEOPLE  27 

which   they   originally    purchased    for   the    Fifth   Avenue 
Baptist  Church. 

John  D.  Rockefeller's  estate  at  Pocantico  is  1300 
acres,  and  he  owns  a  large  estate  at  Forest  Hills,  Cleve- 
land, besides  a  home  on  Euclid  avenue  there.  He  is  also 
interested  in  many  valuable  parcels  of  real  estate  held 
by  Standard  Oil  and  by  its  other  beneficiaries. 


28  STANDARD    OIL 


JOHN  D.  ROCKEFELLER'S  PRINCIPAL 
FINANCIAL  AGENTS. 

Among  those  who  come  in  closest  contact  with  John 
D,  Rockefeller,  Jr.,  during  the  course  of  a  business  day 
is  the  Rev.  Frederick  T.  Gates,  Chairman  of  the  Board  of 
Directors  of  the  General  Education  Board  and  confiden- 
tial agent  of  the  senior  Rockefeller  for  more  than  twenty- 
years.  It  was  the  Rev.  Gates  who  brought  John  D.  the 
opportunity  to  acquire  the  mines  and  railroad  owned  by 
the  six  Merritt  brothers  in  the  Lake  Superior  region  of 
Michigan,  which  were  sold  to  the  steel  trust. 

Mr.  Rockefeller,  through  Mr.  Gates,  advanced  about 
$2,000,000  to  the  Merritts  in  their  development  of  the 
mines  and  in  construction  of  the  railroad  and  docks.  The 
railroad  was  the  Duluth,  Missaba  and  Northern  and  the 
mines  were  among  the  best  in  the  Missaba  district.  The 
Merritts  lost  the  property.  They  sued  Rockefeller  on  an- 
other business  transaction,  charging  misrepresentation, 
and  obtained  a  verdict  for  a  large  amount,  which  they 
compromised  for  $525,000. 

Mr.  Gates's  office  is  in  the  Standard  Oil  Building.  He 
is  director  in  the  American  Shipbuilding  Company,  with 
assets  of  $27,000,000  and  outstanding  capital  of  $16,500,- 
000.  The  Standard  Oil  Company  builds  its  own  ships 
and  now  has  a  fleet  of  one  hundred  and  twenty-five  ocean- 
going steamers.  The  American  Shipbuilding  Co.  has 
yards  and  drydocks  in  Cleveland,  Chicago,  Milwaukee, 
Detroit,  Lorain,  and  West  Superior,  and  it  has  a  plant 
in  Canada. 

The  Rev.  Gates  is  director  in  the  George's  Creek  and 
Cumberland  Railroad,  which  is  owned  by  the  Western 
Maryland,  and  he  is  director  in  that  railroad,  which  oper- 
ates 550  miles  of  track  and  has  assets  of  $120,000,000. 


OR    THE    PEOPLE  29 

He  is  also  director  in  the  Lake  George  Real  Estate  Co., 
and  Montclair  Trust  Company,  President  of  the  Everett 
Timber  and  Investment  Company,  and  Trustee  of  the 
University  of  Chicago. 

He  was  director  in  the  Bessemer  Steamship  Company, 
Vice-President  of  the  Chicago  Terminal  Transfer  Co., 
President  of  the  Duluth,  Missaba  and  Northern  Railway, 
President  of  the  Everett  Railway  and  Electric  Co.  and  the 
Everett  Pulp  and  Paper  Co. ;  director  in  the  Lake  Supe- 
rior Iron  Mines,  Monte  Cristo  Railway  Co.,  Tilden  Iron 
Mining  Co.,  Puget  Sound  Reduction  Co.,  Spanish-Ameri- 
can Mines  Co.,  and  the  Federal  Mining  and  Smelting  Co. ; 
all  Rockefeller  properties.  He  was  also  trustee  of  Vassar 
College. 

THE  TOTAL  ASSETS  OF  THE  VARIOUS  COR- 
PORATIONS IN  WHICH  THE  REV.  GATES  IS  OR 
WAS  DIRECTOR  EXCEED  $500,000,000. 

STARR  J.   MURPHY. 

Starr  J.  Murphy  is  another  important  Rockefeller 
agent.  He  is  director  in  the  General  Education  Board, 
Vice-President  and  director  in  the  American  Linseed 
Co.,  with  young  John  D. ;  director  in  the  Colorado  Fuel 
and  Iron  Co.,  Great  Eastern  Elevator  Co.,  and  President 
and  director  of  the  Tilden  Iron  Mining  Co.,  He  is  also 
director  in  the  Rockefeller  Institute  for  Medical  Research 
and  President  of  the  Abeyton  Realty  Co. 

GEORGE   WELWOOD   MURRAY. 

George  Welwood  Murray,  who  is  John  D.  Rockefel- 
ler's personal  attorney,  is  head  of  the  law  firm  of  Murray, 
Prentice  and  Howland,  No.  37  Wall  street.  Mr.  Murray 
is  director  in  the  American  Linseed  Co.,  ]Mortgage-Bond 
Co.  of  New  York,  National  Surety  Co.,  Montclair  Trust 
Co.,  and  Essex  Title  Guarantee  and  Trust  Co.    He  is  also 


30  STANDARD    OIL 

trustee  of  the  Equitable  Trust  Co.,  to  which  his  firm  is 
counsel.  The  firm  is  also  counsel  to  the  Manhattan  Ele- 
vated Railway  Co.,  controlled  by  John  D.  Rockefeller. 

E.   PARMALEE  PRENTICE. 

E.  Parmalee  Prentice,  a  member  of  the  same  law  firm, 
is  son-in-law  of  John  D.  Rockefeller.  He  is  director  in 
the  American  Linseed  Co.,  and  New  York  Trust  Com- 
pany, which  has  deposits  of  $40,000,000.  Otto  T.  Bannard, 
Republican  candidate  for  mayor  of  New  York  City  in 
1909,  is  President  of  the  trust  company,  and  Charles  W. 
Harkness,  J.  W.  Sterling  and  Joseph  Seep,  all  Standard 
Oil  beneficiaries  and  agents,  are  directors  in  this  com- 
pany. 

Charles  P.  Rowland,  the  last  named  member  of  the 
firm,  is  director  in  the  Lawyers  Mortgage  Co.,  Mortgage 
Bond  Co.,  Ogden  Estates  and  G.  Schirmer  (Inc.).  The 
Lawyers  Mortgage  Co.  is  controlled  by  the  United  States 
Realty  and  Improvement  Co.  It  has  a  capital  of  $6,000,- 
000  and  surplus  of  $2,500,000.  It  pays  12  percent  annual 
dividends. 

The  Mortgage-Bond  Co.  is  capitalized  at  $2,000,000 
and  has  assets  of  $7,262,678.  The  National  Surety  Co. 
has  assets  of  $7,184,187,  is  capitalized  at  $2,000,000,  pays 
12  percent  dividends  and  paid  a  cash  dividend  of  $250,000 
in  1909  and  the  same  amount  in  1910.  George  B.  Cor- 
telyou  is  also  a  director  of  this  company. 

HENRY  E.   COOPER. 

Henry  E.  Cooper  is  Vice-President  of  the  Equitable 
Trust  Co.,  which  has  deposits  of  $84,000,000  and  undi- 
vided surplus  and  profits  of  $10,747,480.  He  is  treasurer 
of  the  American  Linseed  Co.,  and  director  in  the  follow- 
ing: Colorado  Fuel  and  Iron  Co.,  Eastern  Power  and 
Light  Co.,  General  Gas  and  Electric  Co.,  George's  Creek 
and  Cumberland  Railroad,  N.  Y.  Produce  Exchange  Safe 


OR    THE    PEOPLE  31 

Deposit  and  Storage  Co.,  Texas  and  Pacific  Railroad,  Til- 
den  Iron  Mining  Co.,  and  Wabash  and  Western  Maryland 
Railroads.  A.  L.  Kramer,  also  Vice-President  of  the 
Equitable  Trust,  is  also  director  in  some  of  these  proper- 
ties. 

The  Eastern  Power  and  Light  Co.  is  capitalized  at 
$20,000,000.  It  is  a  combination  of  the  Reading  Transit 
and  Light  Co.,  Colonial  Power  and  Light  Co.,  Claremont 
Power  Co.,  Claremont  Railway  and  Light  Co.,  Clarendon 
Power  Co.,  City  Electric  Light  Co.  of  Vincennes,  Ind., 
and  the  West  Virginia  Traction  and  Electric  Co.  All  of 
these  companies  are  under  the  management  of  W.  A. 
Barstow  &  Co.  of  New  York  City.  They  embrace  a  large 
part  of  the  public  service  corporations  of  Vermont,  New 
Hampshire,  Pennsylvania,  Indiana  and  West  Virginia. 

The  General  Gas  and  Electric  Co.  is  capitalized  at 
$20,000,000  and  owns  gas  and  electric  light  companies  and 
trolleys  in  Ohio  and  Vermont.  It  is  a  holding  concern  for 
the  Northern  Ohio  Railway  and  Power  Co.,  Port  Clinton 
Electric  Light  and  Power  Co.,  Western  Vermont  Power 
and  Light  Co.,  and  Rutland  Railway,  Light  and  Power  Co. 

CHARLES    O.    HEYDT. 

Charles  O.  Heydt,  whose  office  is  at  No.  26  Broadway, 
is  director  in  the  American  Linseed  Co.,  Abeyton  Realty 
Co.  and  Cleveland  Steel  Co.  Frank  Rockefeller,  brother 
of  John  D.,  is  also  director  in  this  last  named  company. 

GEORGE  B.  CORTELYOU. 

John  D.  Rockefeller's  largest  holding  outside  of  the 
oil  trust  and  outside  of  his  first  mortgage  railroad  bonds, 
is  in  the  Consolidated  Gas  Company,  of  which  George  B 
Cortelyou  is  President.  The  assets  of  this  company,  in- 
cluding all  subordinate  comnanies.  as  oreviouslv  stated, 
exceed  S550.ooo.ooo.  Mr.  Cortelyou  is  director  in  all  sub- 
ordinate comoanies.  including  the  Astoria  Light.  Heat  and 


32  STANDARD    OIL 

Power  Co.,  Brush  Electric  Illuminating  Co.,  Central  Union 
Gas  Co.,  Municipal  Lighting  Co.,  N.  Y.  Edison  Co.,  N.  Y. 
Mutual  Gas  Light  Co.,  Northern  Union  Gas  Light  Co., 
Northern  Westchester  Lighting  Co.,  Standard  Gas  Light 
Co.  of  N.  Y.,  United  Electric  Light  and  Power  Co.,  and 
Westchester  Lighting  Co. 

Mr.  Cortelyou  is  also  director  in  the  National  Bond 
and  Mortgage  Co.  and  National  Surety  Co.  The  former 
is  capitalized  at  $1,000,000  and  pays  large  dividends. 

John  W.  Sterling,  counsel  to  Standard  Oil,  William 
Rockefeller  and  Frank  A.  Vanderlip,  are  trustees  of  the 
Consolidated  Gas  Co.  and  direct  its  financial  affairs.  Mr. 
Cortelyou  was  secretary  to  the  late  President  McKinley 
before  he  joined  the  Rockefeller  forces. 

FRANK  A.   VANDERLIP. 

Frank  A.  Vanderlip  is  head  of  the  principal  Rockefeller 
financial  institution,  the  National  City  Bank.  It  was  this 
institution  that  floated  Amalgamated  Copper  for  Henry 
H.  Rogers  and  William  Rockefeller  in  1900,  when  James 
Stillman  was  president.  Mr.  Vanderlip  was  assistant  sec- 
retary of  the  Treasury  under  President  McKinley,  after 
which  he  became  vice-president  of  the  National  City  Bank. 

Mr.  Vanderlip  is  an  important  Rockefeller  agent  and 
is  director  in  the  following  corporations :  Carolina,  Clinch- 
field  and  Ohio  R.  R.,  Chesapeake  and  Ohio  R.  R.,  Clinch- 
field  Coal  Corporation,  Cumberland  Corporation,  Hocking 
Valley  Railway,  John  L.  Roper  Lumber  Co.,  Mercantile 
Burglar  Alarm  Co.;  Missouri,  Kansas  and  Texas;  Nor- 
folk Southern  Railroad,  Northern  Westchester  Lighting 
Co.,  Oregon  Short  Line  R.  R. ;  Oregon,  Washington,  R.  R. 
&  Navigation  Co. ;  Peekskill  Lighting  &  R.  R.  Co. ;  Sea- 
board Air  Line,  Union  Pacific,  United  States  Realty  and 
Improvement  Co.,  and  White  Sulphur  Springs  Insurance 
Co. 

He  is  also  director  in  the  Farmers'  Loan  and  Trust  Co., 


OR    THE    PEOPLE  33 

National  Bank  of  Commerce.  Mercantile  Safe  Deposit  Co. 
and  American  Surety  and  Trust  Co.,  and  trustee  in  the 
N.  Y.  University  and  N.  Y.  State  Chamber  of  Commerce. 
The  CaroHna,  Clinchfield  and  Ohio  Railroad  is  the 
outlet  for  the  Clinchfield  Coal  Corporation  which  owns 
250.000  acres  of  coal  lands  in  West  Virginia.  The  rail- 
road is  229  miles  long  and  has  assets  of  $55,000,000. 
Thomas  F.  Ryan  is  also  a  director  in  this  road.  The 
Clinchfield  Coal  Corporation  is  capitalized  at  $17,000,000. 
The  Cumberland  Corporation  operates  the  Carolina, 
Clinchfield  and  Ohio  Railroad. 

The  Chesapeake  and  Ohio  Railroad  has  assets  of 
$260,000,000,  and  operates  2,315  miles  of  track.  It  owns 
$53,000,000  stocks  and  bonds  in  other  railroad  properties. 
The  Hocking  Valley  Railroad  has  assets  of  $48,000,000 
and  operates  351  miles.  The  Norfolk  Southern  operates 
608  miles  and  own  the  John  L.  Roper  Co.,  which  owns 
600,000  acres  of  land  in  Virginia  and  timber  rights  in 
North  Carolina.  The  Norfolk  Southern  has  assets  of 
$35,000,000  and  owns  $9,000,000  stocks  and  bonds  in  other 
companies. 

The  Missouri  Kansas  and  Texas  operates  3,398  miles, 
and  has  assets  of  $242,000,000.  It  owns  $57,000000  stocks 
and  bonds  in  other  properties.  The  Oregon  Shore  Line 
is  controlled  by  the  Union  Pacific,  which  operates  10,000 
miles  and  has  assets  of  $925,000,000.  It  owns  900,000 
acres  of  unsold  land,  part  of  an  original  grant  of  several 
million  acres  from  the  United  States  government.  The 
Seaboard  Air  Line  operates  3,070  miles  and  has  assets  of 
$180,000,000. 

THE  TOTAL  ASSETS  AND  RESOURCES  OF 
THE  CORPORATIONS  AND  INSTITUTIONS  IN 
WHICH  MR.  VANDERLIP  IS  DIRECTOR  OR 
TRUSTEE  EXCEED  $4,000,000,000. 


34  STANDARD    OIL 

JOHN  W.   STERLING. 

John  W.  Sterling  has  been  the  Standard  Oil  attorney 
for  many  years.  Besides  being  trustee  of  the  Consoli- 
dated Gas  Co.,  he  is  director  in  the  following:  Bond  and 
Mortgage  Guarantee  Co.,  Central  Union  Gas  Co.,  Duluth, 
South  Shore  and  Atlantic  Railway,  Farmers'  Loan  and 
Trust  Co.,  Mutual  Trust  Co.  of  Westchester,  National 
City  Bank,  New  Amsterdam  Gas  Co.,  N.  Y.  Edison  Co., 
N.  Y.  Trust  Co.,  Northern  Union  Gas  Co.,  Peekskill  Light 
and  Railroad  Co.,  Standard  Gas  Light  Co.,  United  Electric 
Light  and  Power  Co.,  Virginia  Railway  and  Westchester 
Light  Co. 

The  Farmers'  Loan  and  Trust  Co.  has  resources  of 
$135,000,000  and  the  assets  of  the  Mortgage  and  Bond 
Guarantee  Co.  are  $10,000,000.  The  company  pays  16  per 
cent,  annual  dividend.  The  National  City  Bank  has  re- 
sources of  $274,000,000  and  deposits  of  $214,000,000. 


OR    THE    PEOPLE  35 


STANDARD    OIL    CONTROLS   THE    PRINCI- 
PAL  RAILROADS   IN   THE   UNITED 
STATES  THROUGH  WILLIAM 
ROCKEFELLER. 

Next  to  John  D.  Rockefeller,  the  most  important  mem- 
ber of  the  Standard  Oil  family  is  his  brother  William. 
William  Rockefeller  is  seventy-five  years  old,  two  years 
younger  than  John,  and  is  director  in  the  most  important 
railroads  in  the  country  including  the  New  York,  New 
Haven  and  Hartford;  New  York  Central,  and  Southern 
and  Union  Pacific  Railroads.  He  is  trustee  in  the  Con- 
solidated Gas  Co.,  director  in  the  N.  Y.  Edison  Co.,  and 
member  of  the  Board  of  Directors  of  the  Delaware,  Lacka- 
wanna and  Western  Railroad. 

He  is  also  director  in  the  Amalgamated  Copper  Co., 
Anaconda  Copper  Mining  Co.,  Brooklyn  Gas  Co. ;  Car- 
thage and  Adirondack  R.  R. ;  Cincinnati,  Chicago  and  St. 
Paul;  Dinkirk,  Alleghany  Valley  and  Pittsburg;  Corning 
and  Southern ;  Hartford  and  Connecticut ;  Lake  Shore  and 
Michigan  Southern;  Michigan  Central,  Mohawk  and  Ma- 
lone  ;  New  Jersey  Junction  R.  R. ;  New  Jersey  Shore  Line 
R.  R. ;  New  York  and  Harlem;  N.  Y.  and  Putnam;  New 
York,  Chicago  and  St.  Louis ;  New  York  Connecting  Rail- 
road ;  New  York,  Ontario  and  Western ;  New  York,  West- 
chester and  Boston;  Oregon  Short  Line;  Pittsburg  and 
Lake  Erie;  Poughkeepsie  Bridge  Railroad;  Rutland  Rail- 
road; St.  Lawrence  and  Adirondack  and  Walkill  Valley 
R.  R. 

William  Rockefeller  is  also  director  in  the  City  and 
County  Contract  Co.,  a  railroad  construction  company; 
Milbrook  Co.,  a  subordinate  holding  company  for  the  New 
Haven  R.  R. ;  New  England  Navigation  Co..  which  owns 
all  the  steamship  lines  running  from  New  England  and 
which  is  owned  by  the  New  Haven  road. 


36  STANDARD    OIL 

He  is  director  in  the  Hanover  National  Bank  with  de- 
posits of  $117,000,000,  New  York  State  Realty  and 
Terminal  Co.,  Northern  Westchester  Lighting  Co.,  Peeks- 
kill  Lighting  and  Railroad  Co.,  United  Electric  Light  and 
Power  Co.,  United  Metals  Selling  Co.,  United  States  Trust 
Co.,  and  the  Westchester  Lighting  Co. 

THE  COMBINED  CAPITAL  OR  ASSETS  OF 
THESE  CORPORATIONS  AND  BANKS  EXCEEDS 
FIFTEEN  BILLION  DOLLARS. 

The  Amalgamated  Copper  Co.  is  capitalized  at  $155,00,- 
000.  The  Anaconda  Co.  has  assets  of  $120,000,000.  The 
New  Haven  has  assets  of  $525,000,000 ;  New  York  Central, 
$650,000,000 ;  Southern  Pacific  $650,000,000,  and  Union  Pa- 
cific $925,000,000.  Each  of  the  other  corporations  has  as- 
sets from  $5,000,000  to  $50,000,000,  and  the  resources  of 
the  United  States  Trust  Co.  are  $77,000,000  and  deposits 
$60,000,000. 

William  Rockefeller  owns  valuable  real  estate  parcels 
including  Nos.  3  to  9  East  54th  street,  12  East  55th  street, 
Nos.  689  and  691  Fifth  avenue,  40  West  55th  street  and 
No.  136  West  58th  street.  He  also  owns  a  tract  of  land  on 
Jekyl  Island,  where  he  maintains  a  winter  home. 


OR    THE    PEOPLE  ^7 


WHAT   THE    YOUNGER    ROCKEFELLERS 

REPRESENT. 

Next  in  importance  to  William  Rockefeller  are  his 
sons  William  G.  and  Percy  A.  William  G.  is  regarded  as 
his  father's  worthy  successor  in  point  of  financial  avarice. 
He  is  director  in  the  Amalgamated  Copper  Co.,  Brooklyn 
Union  Gas  Co.,  Inspiration  Consolidated  Copper  Co.,  Lin- 
coln National  Bank,  X.  Y.  Mutual  Gas  Light  Co.,  Oregon 
Short  Line  Railroad,  and  Utiion  Pacific.  Inspiration  Cop- 
per has  45.000,000  tons  of  2  per  cent,  ore  and  other  assets 
of  $21,000,000. 

Percy  A.  Rockefeller  is  director  in  the  Chicago,  Mil- 
waukee and  St.  Paul  Railroad,  Farmers'  Loan  and  Trust 
Co.,  Mechanics  and  ^letals  National  Bank,  Second  Na- 
tional Bank  of  N.  Y.,  and  Star  Seal  Co.,  and  he  is  trustee 
of  the  Provident  Loan  Society  of  N.  Y. 

The  ^Mechanics  and  Metals  bank  has  deposits  of  $69.- 
000.000,  and  among  its  directors  are  C.  M.  Pratt,  H.  H. 
Rogers,  V.  Everit  Macy  and  E.  L.  Marston,  all  Standard 
Oil  stockholders  or  representatives.  The  Provident  Loan 
Society  does  a  pawnbroking  business  on  a  select  scale  and 
makes  12  per  cent,  on  all  pledges.  V.  Everit  Macy  is  also 
a  trustee.  The  Second  National  Bank  has  deposits  of 
$15,000,000. 

FRANK  ROCKEFELLER. 

Frank  Rockefeller  has  been  estranged  from  his  brothers 
John  and  William  since  he  testified  against  them  twenty- 
five  years  ago.  His  testimony  was  damaging  to  the  oil 
trust.  Frank  Rockefeller  in  1899  ^^^^  director  in  the 
Standard  Oil  Company  of  New  York.  He  was  also  direc- 
tor in  the  Cleveland,  Akron  and  Columbus  Railway,  Kern 
Incandescent   Gas  Light   Co.,   International   Banking   and 


38  STANDARD    OIL 

Trust  Co.,  First  Municipal  Bond  Assurance  Co.  and  Union 
Sulphur  Co. 

The  Union  Sulphur  Co.  owns  sulphur  mines  in  Lake 
Charles,  La.,  and  produces  80  per  cent,  of  the  sulphur  sup- 
ply of  the  world.  Its  capital  is  $400,000.  L.  H.  Severance, 
one  of  the  largest  stockholders  in  Standard  Oil,  is  now 
director  in  the  Union  Sulphur  Co.  as  is  Frederick  W. 
Whitridge  receiver  of  the  Third  Avenue  Railroad,  N.  Y. 
City.  The  dividends  of  the  company  are  not  reported,  but 
the  profits  are  said  to  exceed  one  thousand  per  cent,  a  year. 


OR    THE    PEOPLE  39 


ESTATE  OF  HENRY   H.  ROGERS   SHOWS 
VAST    CORPORATE    HOLDINGS. 

Next  in  importance  to  William  Rockefeller  in  the 
affairs  of  Standard  Oil  was  Henry  H.  Rogers,  who  died 
in  1909.  His  estate  was  appraised  at  $47,000,000  at  the 
time  of  his  death.  Rogers  had  lost  many  million  dollars 
before  he  died  in  his  effort  to  finance  the  Virginian  Rail- 
way with  his  own  money.  He  was  compelled  to  sacrifice 
gilt  edge  securities  in  a  bad  market.  The  appraisal  of  his 
estate  shows  he  owned  15,000  shares  of  the  Standard  Oil 
Co.  of  New  Jersey,  then  worth  $9,763,000.  His  oil  hold- 
ings to-day  are  worth  about  $15,000,000. 

His  other  holdings  included  Butte  Coalition  Co.,  $4400,- 
000;  Brooklyn  Union  Gas  Co.,  $1,401,099;  Atlantic  Coast 
Electric  R.  R.  (bonds)  822,300;  International  Navigation 
Co.  (bonds),  $278,800;  International  Mercantile  Marine 
(bonds),  $441,700;  National  Starch  Co.  (bonds),  $297,500; 
Richmond  Light  and  Railroad  Co.  (bonds),  $162,000; 
Amalgamated  Copper  Co.,  $115,500;  American  Express 
National  Bank,  $84,770;  American  Telephone  and  Tele- 
graph Co.,  $42,000;  Atlantic  Coast  Electric  R.  R.  (stock), 
$273,800;  Atlas  Tack  Co.,  $434,750;  Buffalo  Gas  Co.,  $165,- 
000;  Butler  Mill  Co.,  $50,400;  Butte  and  Boston  Consoli- 
dated Mining  Co.  $117,450;  Dartmouth  and  Newport  Street 
Railway,  $115,900;  Union  Street  Railway  Co.  of  New  Bed- 
ford, Alass.  (bonds),  $75,250;  United  Lead  Co.  (bonds), 
$67,600. 

Guaranty  Trust  Co.  of  New  York,  $191,800;  Interna- 
tional Smelting  and  Refining  Co.,  $575,000;  Investment 
Co.,  $112,200;  Loup  Creek  Col.  Co.,  $40,000;  National  Cop- 
per Bank  of  N.  Y.,  $440,000;  National  City  Bank,  $259,- 
625;  National  Fuel  Gas  Co.,  $530,145;  Pennsylvania  Salt 
Manufacturing  Co.,  $65,000;  Pittsburg  Trust  Co.,  $94,800; 


40  .  STANDARD    OIL 

Richmond  Light  and  Railroad  Co.,  $94,800;  San  Rita 
Mining  Co.,  $171,426;  Sun  Printing  and  PubHshing  Co., 
$10,000;  Union  Pacific  Railroad,  $68,997;  Union  Street 
Railway  of  New  Bedford,  Mass.  (stock),  $583,200;  United 
Metals  Selling  Co.,  $827,200  and  U.  S.  Industrial  Alcohol 
Co.,  $37,500. 

Mr.  Rogers  invested  more  than  $20,000,000  in  the  Vir- 
ginian Railway  of  which  his  son-in-law.  Urban  H.  Brough- 
ton,  is  President,  and  in  financing  this  property  he  con- 
tracted a  debt  of  $5,157,500  from  William  Rockefeller, 
which  was  paid  out  of  his  estate.  John  W.  Sterling, 
Standard  Oil  attorney,  Edgar  L.  Marston,  of  Blair  &  Co., 
Standard  Oil  banker,  and  W.  R.  Coe,  W.  E.  Benjamin,  and 
S.  L.  Fuller  representing  Mr.  Rogers,  are  directors  in  the 
railroad,  which  is  474  miles  long  and  has  outstanding  capi- 
tal of  $59,000,000.  The  assets  of  the  company  are  $91,- 
221,723. 

Mr.  Rogers  controlled  all  the  electric,  gas  and  transpor- 
tation companies  on  Staten  Island,  including  the  Staten 
Island  ferry,  nhich  zvas  sold  to  the  City  of  New  York  for 
$1,000,000.  The  boats  belonging  to  the  ferry  company 
were  discarded  as  junk  by  the  city  after  they  were  pur- 
chased. 


OR    THE    PEOPLE  41 


JOHN  D.  ARCHBOLD,  ACTIVE  HEAD   OF 

THE   OIL  TRUST. 

John  D.  Archbold  is  the  most  important  factor  in  the 
Standard  Oil  company  to-day.  He  is  President  of  the 
Standard  Oil  Company  of  New  Jersey  and  was  treasurer 
when  the  letters  of  credit  were  so  liberally  dispensed  to 
statesmen  in  Washington  from  Standard  Oil  funds.  Mr. 
Archbold  owned  6,000  shares  of  Standard  Oil  stock  valued 
at  $4,050,000  in  1907.  These  holdings  are  now  worth 
$6,500,000. 

Mr.  Archbold  is  director  in  the  National  Fuel  Gas  Co., 
which  is  a  combination  of  the  Commercial  National  Gas 
Co. of  Bradford,  Pa.,  United  Gas  Co.  of  Oil  City,  Pa.,  and 
Franklin  National  Gas  Co.  of  Pa.,  which  supplies  a  dozen 
towns  in  the  northern  part  of  Pennsylvania  as  already  told. 
He  was  director  in  the  International  Navigation  Co.  and 
National  Transit  and  N.  Y.  Transit  Companies,  both 
Standard  Oil  subsidiaries.  He  is  trustee  in  the  N.  Y.  Pro- 
duce Exchange  Safe  Deposit  and  Storage  Co.,  with  other 
members  of  the  Standard  Oil  family. 


42  STANDARD    OIL 


WEALTH  OF  THE  HARKNESSES  DERIVED 
FROM  STANDARD  OIL. 

Next  to  John  D.  Rockefeller  the  largest  shareholders  in 
Standard  Oil  are  the  Harknesses,  with  70,500  or  7.05  per 
cent,  of  the  capital  stock.  The  Harknesses  and  Rocke- 
feller have  been  associated  since  1867.  In  1907  Charles  W. 
Harkness  held  43,400  shares  valued  then  at  $29,295,000; 
W.  L.  Harkness  14,000  shares,  at  $9,450,000,  and  L.  V. 
Harkness  13,100  shares,  valued  at  $8,842,500,  a  total  of 
$47,629,500.  These  securities  are  to-day  worth  about 
$75,000,000. 

Charles  W.  Harkness  is  director  in  the  Chicago,  Mil- 
waukee and  St.  Paul  Railroad,  Southern  Pacific,  and  N.  Y. 
Trust  Co.  The  Chicago,  Milwaukee  and  St.  Paul  has  as- 
sets of  $570,000,000.  He  was  director  in  the  Huntington 
and  Big  Sandy  R.  R.,  Iron  Belt  Mining  Co.,  Tilden  Iron 
Mining  Co.,  Ohio  River  Railroad,  Spanish-American  Iron 
Mining  Co.,  Morningside  Realty  Co.,  Puget  Sound  Reduc- 
tion Co.,  N.  Y.  Produce  Exchange  Safe  Deposit  and 
Storage  Co.,  and  trustee  of  the  Continental  Trust  Co. 

Edward  Harkness,  whose  office  is  No.  26  Broadway,  is 
director  in  the  Atlantic  Insulated  Wire  and  Cable  Co.  and 
the  Fidelity  Bank.  The  Atlantic  Insulated  Wire  and  Cable 
Co.  is  capitalized  at  $300,000. 


OR    THE    PEOPLE  43 


THE  WEALTH   OF  THE  PRATTS  IS  IN- 
VESTED  IN    MANY   ENTERPRISES. 

Next  to  the  Harknesses  the  hirgcst  share  holders  in 
Standard  Oil  are  the  Pratts  of  Brooklyn,  who  sold  out 
to  and  joined  the  oil  trust  forty  years  ago.  Henry  H. 
Rogers  was  a  member  of  the  Pratt  company.  In  1907  the 
estate  of  Charles  Pratt  and  Charles  M.  Pratt  held  57,802 
shares,  or  5.78  per  cent,  of  the  capital.  These  shares  were 
then  valued  at  $39,000,000.  They  are  now  worth  about 
$55,000,000. 

Charles  M.  Pratt  is  director  in  the  American  Express 
Co.,  with  assets  of  $60,000,000  and  gross  earnings  of  $44,- 
000,000  a  year.  He  is  also  director  in  the  Boston  and 
Maine  R.  R.,  Brooklyn  City  Railroad,  Huntington  &  Big 
Sandy  R.  R.,  Ohio  River  R.  R.,  Long  Island  Railroad, 
and  N.  Y.  Glucose  Co.,  which  is  part  of  the  Corn  Products 
Refining  Co.  He  is  director  in  the  Brooklyn  Trust  Co., 
Mechanics  and  Metals  National  Bank,  United  States  Mort- 
gage and  Trust  Co.,  Metropolitan  Trust  Co.,  Self-Winding 
Clock  Co.,  Insurance  Co.  of  North  America  with  assets  of 
$18,000,000,  and  a  member  of  the  firm  of  Pratt  &  Lambert. 

John  T.  Pratt  is  member  of  the  firm  of  Charles  Pratt 
&  Co.,  with  offices  in  the  Standard  Oil  building.  He  is 
director  in  the  Central  Park,  North  and  East  River  Rail- 
road Co.,  which  is  the  59th  street  belt  line,  and  in  the  J.  G. 
White  Co.,  which  received  a  contract  from  the  Chinese 
government  for  the  construction  of  dams  to  prevent  floods 
in  the  Hwai  River  valley.  The  contract  was  obtained 
through  the  instrumentality  of  the  American  Red  Cross 
Society  and  is  undertaken  as  a  "humanitarian''  project, 
financed  by  the  Chinese  government  with  a  loan  of  $20.- 
000.000  from  Standard  Oil  beneficiaries.  J.  G.  White  & 
Co.   has   assets   of  $4,500,000   and   owns  the   Engineering 


44  STANDARD    OIL 

Securities  Corporation,  General  Securities  Corporation,  J. 
G.  White  &  Co.,  Ltd.,  and  General  Securities  Co.,  Ltd. 

The  aim  of  those  interested  in  this  engineering  project 
is  to  create  a  fertile  territory  in  China  on  which  to  produce 
farm  and  agricultural  products  for  the  United  States. 

John  T.  Pratt  is  also  director  in  the  J.  G.  White  Man- 
agement Corporation  and  Motor  and  Gear  Improvement 
Co.  He  is  trustee  of  Pratt  Institute,  and  director  in 
Thrift,  which  owns  1,400  mortgages  on  property  in  this 
city. 

Herbert  L.  Pratt  is  director  in  Frederick  Loeser  &  Co., 
Standard  Oil  Co.  of  N.  Y.,  People's  Trust  Co.,  Pratt  Insti- 
tute and  Thrift.  The  Pratt  investment  in  Loeser  &  Co. 
amounts  to  several  million  dollars. 

Harold  I.  Pratt  is  treasurer  of  the  Morris  Building 
Co.,  of  which  Alfred  C.  Bedford  is  President,  and  which 
owns  Nos.  44  to  50  Broadway  and  Nos.  41  to  47  New 
street.  He  was  director  in  the  Ransome  Concrete  Co., 
Club  Building  Co.,  Chelsea  Mills  Co.,  Pratt  Institute  and 
Thrift.  The  Club  Building  Co.  is  capitalized  at  $200,000 
and  owns  No.  52  Broadway  and  No.  136  West  34th  street. 
Walter  C.  Teagle,  Vice-President  of  Standard  Oil  Com- 
pany of  N.  J.,  is  director  in  this  company.  The  building 
at  No.  52  Broadway  was  torn  down  to  reduce  the  tax 
assessment  and  the  lot  is  now  vacant. 

Frederic  B.  Pratt  is  President  of  the  Chelsea  Fibre 
Mills  Co.,  director  in  the  Ladd  &  Tilton  Bank  of  Portland, 
Ore.,  and  Thrift,  and  trustee  of  Pratt  Institute. 

Dallas  B.  Pratt  was  director  in  the  Atlantic  Mutual 
Insurance  Co.,  with  assets  of  $15,000,000;  Bank  of 
America,  N.  Y.  Warehouse  and  Security  Co.,  and  trustee 
of  German  Savings  Bank  and  Mt.  Vernon  Trust  Co. 


OR    THE    PEOPLE  45 


OLIVER  H.  PAYNE'S  GREAT  FORTUNE 
FROM  STANDARD  OIL. 

Next  to  the  Pratts  the  largest  stockholder  in  Standard 
Oil  is  Oliver  H.  Payne,  who  lives  at  Xo.  852  Fifth  avenue. 
Mr.  Payne  was  for  years  treasurer  of  the  oil  combination 
and  started  in  business  with  Rockefeller  in  1867,  having 
been  an  oil  refiner  prior  to  that  time. 

Mr.  Payne  held  40,000  shares  in  1907  valued  at  $27,- 
000,000.  now  worth  more  than  $40,000,000.  He  was  direc- 
tor in  the  American  Tobacco  Co.  and  in  the  Continental 
Tobacco  Co.,  Havana  Tobacco  Co.,  and  International  Cigar 
Machinery  Co.,  and  was  with  Thomas  F.  Ryan,  James  B. 
Duke,  William  C.  Whitney  and  Anthony  F.  Brady  in  most 
of  their  speculative  tobacco  and  traction  ventures.  Whit- 
ney's first  wife  was  Oliver  H.  Payne's  sister.  Mr.  Payne 
owns  15,000  shares  of  stock  in  the  Reading  Railroad,  which 
owns  half  the  available  coal  supply  of  Pennsylvania. 

]Mr.  Payne  was  director  in  the  Chase  National  Bank, 
Chihuahua  and  Pacific  Railroad,  Chihuahua  ]\Iining  Co., 
Great  Northern  Paper  Co.,  Helena  ]\Iining  Co.,  Interlake 
Pulp  and  Paper  Co.,  X.  Y.  Loan  and  Improvement  Co., 
Coal  Creek  Mining  and  ^Manufacturing  Co.,  Manhattan 
Trust  Co.,  Tennessee  Coal  and  Iron  Railroad,  Croesus 
Gold  Mining  and  Milling  Co.,  Virginia  and  South  Eastern 
Railway  Co.,  International  Railway  Co.,  International 
Traction  Co.,  and  Tintic  Copper  Co. 

THE  TOTAL  CAPITALIZATION  OR  ASSETS  OF 
THESE  CORPORATE  AND  BANKING  INSTITU- 
TIONS EXCEEDS  ONE  BILLION  DOLLARS. 


46  STANDARD    OIL 


TREMENDOUS  STANDARD  OIL  WEALTH 
OF  THE  FLAGLERS. 

Henry  M.  Flagler  was  one  of  John  D.  Rockefeller's 
earliest  associates.  He  was  part  of  the  Rockefeller  oil 
combination  in  Cleveland  in  1865  when  the  Rockefellers, 
Andrews,  Payne  and  Flagler  formed  the  Standard  Oil 
group.  In  1907  Henry  M.  Flagler  held  30,500  shares  of 
Standard  Oil  valued  then  at  $20,587,500.  This  same  hold- 
ing to-day  is  worth  more  than  $30,000,0000.  Flagler  was 
director  in  the  National  Fuel  Gas  Co.,  the  Standard  Oil 
offshoot,  and  he  built  the  Florida  East  Coast  Railway  with 
his  own  money.  He  was  director  in  the  Jacksonville 
Term.inal  Co.,  The  Cuba  Co.,  Morton  Trust  Co.,  National 
Transit  and  New  York  Transit  Companies  (both  Standard 
Oil  subsidiaries)  and  the  Peninsula  and  Occidental 
Steamship  Co.  He  was  also  director  in  the  Western  Union 
Telegraph  Co.  He  died  in  1913,  leaving  most  of  a  fortune 
of  $60,000,000  to  his  son  Harry  Harkness  Flagler. 

John  PI.  Flagler  is  director  in  the  American-La  France 
Fire  Engine  Co.,  zvhich  sells  automobile  fire  apparatus  to 
Nezv  York  and  other  large  cities.  Its  assets  are  $3,852,082, 
and  it  is  capitalizedat  $1,450,000.  Its  sales  in  1912  totalled 
$2,100,000. 

John  H.  Flagler  is  also  director  in  the  Riker-Hegeman 
Corporation,  Bank  of  Washington  Heights,  Consolidated 
Arizona  Smelting  Co.,  Credit  Clearing  House,  Home  In- 
surance Co.,  and  Eastern  Mausoleum  Co.  of  Buffalo.  The 
Home  Insurance  Co.  has  assets  of  $35,000,000  and  surplus 
of  $15,000,000.  Its  capital  is  $3,000,000.  The  Credit  Clear- 
ing House  is  capitalized  at  $600,000.  and  is  a  consolidation 
of  the  Credit  Clearing  House  of  Illinois  and  Bankers' 
Agency. 


OR    THE    PEOPLE  47 


THE  TILFORDS  HAVE  VAST  STANDARD 
OIL  POSSESSIONS. 

Wesley  H.  Tilford  held  6,000  shares  of  Standard  Oil 
stock  in  1907.  These  securities  at  that  time  were  worth 
$4,050,000.  They  are  now  worth  more  than  $6,000,000. 
Mr.  Tilford  was  treasurer  of  the  Standard  Oil  Co.  several 
years  ago,  and  president  of  director  of  the  Union  Tank 
Line  Co.  and  other  Standard  Oil  subsidiaries. 

Frank  Tilford,  a  member  of  the  oil  family,  has  been 
active  in  many  lines  of  business.  He  is  president  of  Park 
&  Tilford,  grocers.  He  was  director  in  the  Consolidated 
Gas  Co.  of  N.  Y.,  Consolidated  Gas  Co.  of  Baltimore, 
Boston  and  New  York  Telephone  Co.,  Consolidated  Rub- 
ber Tire  Co.,  Erie  Telephone  and  Telegraph  Co.,  New- 
town and  Flushing  Gas  Co.,  Gas  Industries  Co.,  New  York 
and  Queens  Electric  Light  and  Power  Co.,  Standard  Gas 
Light  Co.  of  New  York,  Telephone,  Telegraph  and  Cable 
Co.  of  America,  Atlantic  Match  Co.,  Henry  Weissinger 
Tobacco  Co. ;  Havana  Commercial  Co.,  National  Match 
Co.,  New  York  Realty  Corporation,  Quincy  Gas  and  Elec- 
tric Light  Co.,  Williamsport  Gas  Co.,  Universal  Tobacco 
Co.,  Henry  Clay  and  Bock  Co.,  Pennsylvania  Sugar  Re- 
fining Co.  of  Philadelphia,  City  Investing  Co.,  Combustion 
Utilities  Co.,  Dallas  Gas  Co.,  Queens  Investing  Co.,  Bank 
of  New  Amsterdam,  Fifth  Avenue  Trust  Co.,  Greenwich 
Bank,  New  York  Security  and  Trust  Co.,  Madison  Safe 
Deposit  Co.,  and  People's  Institute.  Mr.  Tilford  is  now 
active  only  in  educational  institutions  besides  Park  and 
Tilford. 

THE  TOTAL  ASSETS  OR  CAPITAL  OF  THE 
CORPORATIONS  IN  WHICH  HE  HAS  BEEN  AN 
ACTIVE  FACTOR  EXCEEDS  ONE  BILLION  DOL- 
LARS. 


48  STANDARD    OIL 


THE  WEALTH  OF  THE  WARDENS  DE- 
RIVED FROM  STANDARD  OIL. 

W.  G.  Warden,  of  Philadelphia,  joined  the  oil  trust  in 
the  early  seventies  with  his  partner,  William  Frew.  They 
owned  the  Atlantic  Refining  Co.,  the  stock  of  which  is 
now  quoted  at  $800  a  share.  In  1907  the  Wardens  held 
5,858  shares  of  oil  trust  stock  valued  at  $3,954,150.  The 
stock  is  now  worth  about  $5,500,000.  A  large  part  of  the 
Warden  wealth  is  invested  in  the  United  Gas  Improve- 
ment Co.,  of  which  S.  T.  Bodine,  Mr.  Warden's  son-in-law, 
is  President.  This  company  owns  the  gas,  electric  plants 
and  railways  in  more  than  forty  large  cities  and  has  assets 
of  $250,000,000. 

S.  T.  Bodine  is  director  in  the  Public  Service  Corpor- 
ation of  New  Jersey,  which  owns  all  the  gas  and  electric 
plants  and  most  of  the  trolleys  in  the  state  of  New  Jersey. 
He  is  also  director  in  the  Pennsylvania  Company,  which 
operates  all  the  lines  of  the  Pennsylvania  Railroad  west  of 
Pittsburg.  The  company  owns  $264,659,312  stocks  and 
bonds  in  various  railroads.  It  is  capitalized  at  $80,000,000, 
the  capital  having  been  increased  from  $60,000,000  in  1910 
by  a  stock  dividend  of  $20,000,000.  The  Pennsylvania  Com- 
pany also  own  a  majority  of  the  capital  stock  of  the  Penn- 
sylvania Steel  Co.,  capitalized  at  $50,000,000,  and  the  Cam- 
bria Steel  Co.,  also  capitalized  at  $50,000,000. 

Mr.  Bodine  is  also  director  in  the  Welsbach  Co.,  cap- 
itahzed  at  $5,500,000;  Guarantee  Co.  of  North  America, 
Franklin  National  Bank  and  Commercial  Trust  Co.  He  is 
also  trustee  of  the  estate  of  Wm.  G.  Warden. 


OR    THE    PEOPLE  49 


BEDFORD     MILLIONS     FROM     STANDARD 
OIL  ARE   WIDELY   INVESTED. 

In  1907,  the  principal  Bedford  holdings  in  Standard  Oil 
were  those  of  E.  T.  Bedford,  who  had  3,300  shares,  valued 
at  $2,227,500.  These  securities  are  to-day  worth  more 
than  $3,000,000.  Air.  Bedford  is  president  of  the  Colonial 
Oil  Co.,  a  Standard  Oil  subsidiary,  and  of  the  Corn  Pro- 
ducts Refining  Co.  He  is  trustee  in  the  Title  Guarantee 
and  Trust  Co.  of  X.  Y.,  and  Southport  (Ct.)  Trust  Co.;  di- 
rector in  the  Bush  Terminal  Co.,  Thompson-Starrett  Co., 
Long  Island  Safe  Deposit  Co.  and  U.  S.  Lloyds.  He  was 
director  in  the  Bank  of  the  State  of  New  York,  Manu- 
facturers Trust  Co.,  National  Bank  of  North  America, 
Wall  Street  Exchange  Association,  American  Ice  Co.,  and 
Bedford  Petroleum  Co.  of  Paris,  France. 

THE  ASSETS  OF  THESE  CORPORATIONS  EX- 
CEED $250,000,000. 

Alfred  C.  Bedford  is  vice-president  and  director  of  the 
National  Fuel  Gas  Co.,  and  director  in  the  Portland  Rail- 
way Light  and  Power  Co.,  which  owns  the  street  railway 
companies  of  Portland  (Oregon)  and  vicinity,  and  which 
supplies  commercial  light  and  power  to  Portland,  Oregon 
City,  Troutdale,  Cazardo  and  Bull  Run.  It  supplies  power 
to  other  interurban  railways  entering  Portland  and  to 
street  railway  companies  in  Salem  and  Vancouver.  It  also 
supplies  water  power  to  large  mills.  The  company  is  cap- 
italized at  $35,000,000  and  has  assets  of  $62,000,000.  The 
National  Fuel  Gas  Co.  is  a  combination  of  smaller  com- 
panies which  supply  gas  to  various  cities  in  the  oil  region 
of  Pennsylvania. 

A.  C.  Bedford  is  also  director  in  the  Electric  Bond  and 
Share  Co.,  which  was  organized  in  1905  to  purchase  secu- 
rities in  railway,  light,  power  and  water  companies.    Mars- 


50  STANDARD    OIL 

den  J.  Perry  is  chairman  of  the  board  of  directors.  Mr. 
Perry  was  active  for  Henry  H.  Rogers  in  Massachusetts 
utilities  and  Rogers  held  stocks  and  bonds  in  the  Union 
Street  Railway  of  New  Bedford,  Mass.,  when  he  died. 

A.  C.  Bedford  is  president  and  director  of  the  Self- 
winding Clock  Co.,  in  Thrift,  and  in  the  Gilbert  and  Bar- 
ker Manufacturing  Co.,  a  Standard  Oil  offshoot,  capital- 
ized at  $250,000. 

Frederick  T.  Bedford  is  treasurer  of  the  Corn  Products 
Refining  Co.,  director  in  the  National  Starch  Co.,  and 
special  partner  in  Pouch  &  Co.,  a  brokerage  concern, 
owned  by  other  members  of  Standard  Oil,  his  partnership 
being  for  $50,000. 

Charles  E.  Bedford,  vice-president  of  the  Vacuum  Oil 
Co.,  a  Standard  Oil  subsidiary,  is  president  of  the  Grieve 
Grate  Co. 


OR    THE    PEOPLE  51 


STANDARD  OIL  MADE  MILLIONAIRES  OF 

THE    JENNINGS. 

The  families  of  Walter  and  O.  B.  Jennings  held  8,ioo 
shares  of  oil  trust  stock  in  1907,  valued  at  $5,000,000,  now 
worth  $7,500,000.  Walter  Jennings  is  president  of  the 
National  Fuel  Gas  Co.,  truestee  of  the  N.  Y.  Trust  Co.,  and 
president  of  the  Huntington  Club  Company.  He  was  di- 
rector in  the  Continental  Trust  Co.,  and  St.  Bartholomew 
Loan  Association. 

Oliver  G.  Jennings,  who  owned  2,300  shares  in  1907,  is 
director  in  the  Signature  Co.,  capitalized  at  $500,000,  and 
the  Condon  Autostop  Co.,  capitalized  at  $50,000.  Percival 
J.  Mcintosh,  of  Standard  Oil,  is  director  in  both  these 
companies. 


52  STANDARD    OIL 


DANIEL  O'DAY  WAS  ACTIVE  FOR  STAND- 
ARD  OIL  IN  MANY  CORPORATIONS. 

Daniel  O'Day,  who  died  a  few  years  ago,  held  2,655 
shares  of  Standard  Oil  stock  in  1907,  valued  at  $1,792,125. 
They  are  now  worth  $2,500,000.  Mr.  O'Day  joined  the  oil 
trust  in  the  early  seventies,  and  was  in  charge  of  trans- 
portation from  the  oil  fields.  He  was  director  in  the 
Atlantic  Coast  Electric  Railroad  and  Atlantic  Coast  Realty 
Co.,  director  and  president  of  the  Buffalo  General  Electric 
Co.,  director  in  the  Buffalo  Natural  Gas  Co.,  Buffalo, 
Thousand  Islands  and  Portland  Railroad;  International 
Steam  Pump  Co.,  Henry  R.  Worthington  (Inc.),  Lanyon 
Zinc  Co.,  National  Tube  Works,  National  Transit  Co., 
N.  Y.  Transit  Co.,  Telephone,  Telegraph  and  Cable  Co., 
Northern  Ohio  Natural  Gas  Co.,  Buffalo  Railway,  Nia- 
gara Falls  Power  Co.,  Crosstown  Street  Railway  of  Buf- 
falo, Venango  Power  and  Traction  Co.,  Cataract  Power 
and  Conduit  Co.,  International  Railway  Co.,  Oil  City  Boil- 
er Works,  Brooklyn  Dock  and  Terminal  Co.,  and  National 
Fuel  Gas  Co. 

Mr.  O'Day  was  also  director  in  the  Colonial  Safe  De- 
posit Co.,  Colonial  Trust  Co.,  N.  Y.  Produce  Exchange 
Safe  Deposit  and  Storage  Co.,  People's  Bank  of  Buffalo, 
Seaboard  National  Bank,  New  Amsterdam  National  Bank, 
Federal  Trust  Co.  of  Newark,  and  Windsor  Trust  Co. 

THE  ASSETS  OR  RESOURCES  OF  ALL  THESE 

CORPORATIONS      EXCEED     $500,000,000,      AND 

O'DAY  REPRESENTED  STANDARD  OIL  IN  ALL 

OF   THEM. 


OR    THE    PEOPLE  53 


THE  WEALTH  OF  THE  POUCH  FAMILY  IS 
INVESTED  AROUND  NEW  YORK. 

Alonzo  B.  Pouch  was  one  of  the  largest  stockholders 
in  Standard  Oil.    He  left  each  of  his  five  sons  $2,000,000. 

A.  B.  Pouch  is  president  of  the  American  Dock  Co., 
which  owns  30  acres  of  waterfront  at  St.  George,  S.  I., 
including  five  piers  and  twenty-six  warehouses.  The  cap- 
ital of  the  company  is  $1,000,000  and  the  directors  are 
A.  B.,  Frederick  H.,  William  H.  and  Edgar  D.  Pouch  and 
William  H.  Hascy. 

A.  B.  Pouch  is  director  of  the  Riker-Hegeman  Corpor- 
ation, Stapleton  National  Bank,  and  United  States  Title 
Guarantee  Co.  He  was  director  in  the  Newburgh  Elec- 
tric Railway  Co.,  Secretary  of  the  Orange  County  Trac- 
tion Co.,  and  trustee  of  the  Staten  Island  Savings  Bank. 
The  U.  S.  Title  Guarantee  Co.  has  assets  of  $1,616,624 
and  surplus  and  undivided  profits  of  $827,759.  I^s  capital 
is  $625,000. 

Frederick  H.  Pouch  is  vice-president  of  the  American 
Dock  Co.,  treasurer  of  Riker-Hegeman,  trustee  of  the 
Hamilton  Trust  Co.,  director  of  the  Assurance  Company 
of  America  and  Bank  of  Washington  Heights.  The  As- 
surance Co.  of  America  has  assets  of  $487,000;  surplus  of 
$176,866  and  capital  $200,000. 

William  H.  Pouch  is  director  in  the  American  Dock  Co. 
and  Concrete  Steel  Co. 

Edgar  D.  Pouch  was  director  in  the  American  Dock 
Co.  and  Orange  County  Traction  Co. 


54  STANDARD    OIL 


STANDARD     OIL     HAS     MADE     MILLIONS 
FOR  THE  WARINGS. 

Richard  S.  Waring  was  one  of  the  organizers  of  the 
oil  trust,  and  his  heirs  have  derived  several  million  dollars 
from  his  trust  holdings. 

Orville  T.  Waring  is  director  in  the  Standard  Oil  Co. 
of  N.  J.,  president  of  the  Hillside  Cemetery  Co.,  and  Plain- 
field  Trust  Co.,  vice-president  of  the  Marsh  Lumber  Co. 
and  Rosendale  Raddaway  Belting  and  Hose  Co.  He  was 
director  in  the  Chesebrough  Manufacturing  Co.,  a  branch 
of  the  oil  trust. 

Orville  G.  Waring  is  president  of  Borne  and  Scrymser, 
an  oil  trust  subsidiary;  director  in  the  Guiler  Engraving 
Co.  and  in  Marcus  Mason  and  Company,  manufacturers 
of  coffee  machinery. 

L.  E.  Waring  was  director  in  the  Plainfield  Trust  Co., 
Stone  &  Eddy,  Interboro  Bank  of  N.  Y.,  and  Poly  Phase 
Ignition  Co, 


OR   THE    PEOPLE  55 


OTHERS     WHO     ARE     ACTIVE     AND     IN- 
FLUENTIAL  FOR  STANDARD   OIL. 

Walter  C.  Teagle,  vice-president  of  the  Standard  Oil 
Co.  of  N.  Y.,  is  related  to  John  Teagle,  one  of  the  earliest 
oil  trust  members.  He  is  director  in  the  Club  Building 
Co.,  which  owns  No.  52  Broadway  and  No.  136  W.  44th 
street;  in  the  Gilbert  &  Barker  Manufacturing  Co.,  Locke 
Steel  Belt  Co.,  Tidewater  Oil  Co.,  Tide  Water  Pipe  Line 
Co.,  and  the  V.  &  O.  Press,  which  manufactures  tools  and 
machinery  supplies. 

The  Tidewater  companies  are  not  included  in  the 
thirty-three  constituent  oil  trust  companies,  but  Standard 
Oil  owns  31  per  cent,  of  the  stock.  The  Tidewater  Oil  Co. 
has  assets  of  $27,000,000  and  its  President  is  R.  D.  Benson 
of  New  Jersey.  The  company  came  under  the  influence 
of  the  oil  trust  about  1898  after  a  stiff  fight  to  keep  out  of 
its  clutches. 

R.  D.  and  W.  S.  Benson  are  largely  interested  in  other 
properties.  They  are  directors  and  officers  in  the  fol- 
lowing: East  Jersey  Railroad  and  Terminal  Co.,  Guaran- 
tee Mortgage  and  Title  Ins.  Co.  of  Passaic,  Magnetic  Iron 
Ore  Co.,  Passaic  Investment  Co.,  People's  Bank  and  Trust 
Co.  of  Passaic,  Piatt  and  Washburn  Refining  Co.,  Musko- 
gee Electric  Traction  Co.,  Shawnee-Tecumseh  Traction 
Co.,  and  the  Associated  Producers  Co. 

HORACE  A.  HUTCHINS. 

Horace  A.  Hutchins  held  2,067  shares  oil  trust  stock 
in  1907,  valued  at  $1,395,225.  The  stock  is  now  worth 
more  than  $2,000,000.  He  is  director  in  the  Chattanooga 
Plow  Co.,  which  is  owned  by  the  Molina  Plow  Co.,  capi- 
talized at  $18,000,000.  Harold  McCormack,  son-in-law  of 
John  D.  Rockefeller,  and  his  brothers,  control  this  com- 


56  STANDARD    OIL 

pany,  which  manufactures  plows,  planters,  cultivatori  and 
all  implements  for  farm  and  agricultural  use.  The  McCor- 
macks  are  also  the  largest  factors  in  the  International 
Harvester  Co.,  the  harvester  trust,  organized  by  George 
W.  Perkins  for  Morgan  &  Co.,  the  cost  of  whose  products 
is  now  almost  twice  what  it  was  before  the  combination 
was  formed. 

Mr.  Hutchins  is  also  director  in  the  Assurance  Co.  of 
America,  National-Standard  Insurance  Co.,  Mason  City 
and  Fort  Dodge  Railroad  Co.,  Riker-Hegeman,  Morris- 
town  Trust  Co.  and  Unique  Box  Folding  Co. 

HENRY  C.  FOLGER,  JR. 

One  of  the  principal  members  of  the  Standard  Oil 
family  to-day  is  Henry  C.  Folger,  Jr.,  President  of  the 
Standard  Oil  Co.  of  N.  Y.,  which  recently  made  an  ad- 
vantageous contract  with  the  Chinese  Government  to  ex- 
ploit the  mineral  resources  of  two  Chinese  provinces.  Mr. 
Folger  is  trustee  of  the  Hamilton  Trust  Co.  He  lives  in 
Brooklyn.  He  was  director  in  the  Tidewater  Oil  Co.  and 
Tidewater  Pipe  Line  Co. 

The  Standard  Oil  Co.  of  N.  Y.  paid  a  400  per  cent, 
dividend  in  1913  by  increasing  its  capital  stock  from 
$15,000,000  to  $75,000,000  out  of  surplus  earnings. 

Mr.  Folger's  father  is  secretary  of  the  Thomson  Meter 
Co.,  which  manufactures  water  meters  used  in  New  York 
City  for  measuring  water  in  houses. 

HENRY  A.  McGEE. 

Henry  A.  McGee  is  director  in  the  Standard  Oil  Co.  of 
N.  Y.,  vice-president  of  the  Plainfield  Trust  Co.,  and 
trustee  of  the  N.  Y.  Produce  Exchange  Safe  Deposit  and 
Storage  Co.  He  was  formerly  member  of  the  board  of 
managers  of  the  N.  Y.  Produce  Exchange,  which  fixes 
the  price  of  oil  for  the  trade  and  in  the  Bowling  Green 
Trust  Co. 


OR    THE    PEOPLE  57 

W.  C  McGee  was  director  in  the  Plainfield  Trust  Co., 
N.  Y.  Petroleum  Soap  Co.,  and  Central  Electric  Construc- 
tion Co.     Hia  Office  is  in  the  Standard  Oil  building. 

PERCIVAL  T.  McINTOSH. 

Percival  J.  Mcintosh  is  an  important  member  of  the 
oil  trust.  His  office  is  No.  26  Broadway.  He  is  director 
of  the  Chicago,  Milwaukee  and  Puget  Sound  Railway  Co., 
Condon  Autostop  Co.,  Signature  Co.,  U.  S.  Industrial  Al- 
cohol Co.,  and  President  of  the  General  Gas  Appliance  Co. 

The  Chicago,  Milwaukee  and  Puget  Sound  Railway  is 
capitalized  at  $100,000,000  and  is  owned  by  the  Chicago, 
Milwaukee  and  St.  Paul,  in  which  William  Rockefeller  is 
director.  The  U.  S.  Industrial  Alcohol  Co.  owns  the  capi- 
tal stock  of  the  Republic  Distilling  Co.  and  Wood  Products 
Co.,  and  is  capitalized  at  $18,000,000.  It  has  assets  of 
$22,000,000.  The  company  is  controlled  by  the  Distilling 
Co.  of  America,  the  "whisky  trust."  Henry  H.  Rogers 
was  a  large  stockholder  in  the  U.  S.  Industrial  Alcohol  Co. 
The  Condon  Autostop  Co.  is  capitalized  at  $50,000  and  the 
Signature  Co.  at  $500,000.  Oliver  G.  Jennings  is  director 
in  both  these  companies. 

RICHARD  C.  VEIT. 

Richard  C.  Veit,  secretary  of  the  Standard  Oil  Co.  of 
New  York,  is  director  in  the  Gas  Engine  and  Power  Co. 
and  Charles  L.  Seabury  Consolidated,  capitalized  at  $600,- 
000.  The  concern  manufactures  power  boats  and  ships  on 
the  Harlem  River  at  University  Heights. 

E.  B.  WALDEN. 

E.  B.  Walden,  of  Standard  Oil,  is  director  in  the  Corn 
Products  Refining  Co.,  and  National  Starch  Co.,  and 
Frederick  T.  Fischer  is  secretary  of  both  companies. 


58  STANDARD    OIL 

F.  J.  LOVATT. 

F.  J.  Lovatt,  of  No.  26  Broadway,  is  director  in  the 
American  Linseed  Co.,  and  vice-president  of  William  H. 
Knox  &  Co.,  capitalized  at  $300,000. 

JOHN  T.  LEE. 

John  T.  Lee,  secretary  of  Swan  and  Finch,  a  Standard 
Oil  subsidiary,  is  director  in  the  Salisbury  and  Harvey 
Railroad,  which  operates  40  miles  in  New  Brunswick, 
Canada. 

LEWIS   WARFIELD. 

Lewis  Warfield  of  Standard  Oil  was  director  in  the 
Detroit  River  Terminal  Co. ;  Rochester,  Charlotte  and 
Manitou  Railway;  United  States  Long  Distance  Automo- 
bile Co.;  Occidental  Construction  Co.,  and  President  of 
the  Topia  Mining  Co. 

B.  A.  TOWL. 

B.  A.  Towl  of  Standard  Oil  is  director  in  the  Hall 
Printing  Co.  of  50  Church  street,  capitalized  at  $50,000. 

JOHN  A.  HANCE. 

John  A.  Hance  of  Jessup  and  Lamont,  Standard  Oil 
brokers  at  No.  26  Broadway,  is  director  in  the  N.  Y.  Pro- 
duce Exchange  Safe  Deposit  and  Storage  Co.  and  trustee 
in  the  North  River  Savings  Bank. 


OR    THE    PEOPLE  59 


HOW   THE   BOSTWICK-STANDARD   OIL 
FORTUNE    GREW. 

An  illustration  of  how  Standard  Oil  money  grows  is 
found  in  the  trust  fund  created  in  1890  for  Albert  C. 
Bostwick.  The  fund  at  that  time  consisted  of  Standard 
Oil  stock  worth  $296,171.  In  1912 — twenty  two  years 
later — the  market  value  of  the  stock  was  $1,642,611  and 
the  dividends  paid  amounted  to  $1,032,227 — a  total  of 
$2,674,838,  an  increase  of  900  per  cent. 

Albert  C.  Bostwick  died  in  1910  at  the  age  of  thirty- 
three.  His  estate  totalled  $3,000,000  and  consisted  of  the 
original  trust  fund  Standard  Oil  stock  and  the  profits 
which  had  been  reinvested  in  other  profit-producing  con- 
cerns. Young  Bostwick  spent  money  liberally  during  most 
of  the  years  of  the  trust  fund's  existence. 

At  the  time  the  trust  fund  for  Albert  was  created,  the 
Bostwick  family  held  16,300  shares  of  Standard  Oil  stock 
worth  to-day  about  $12,000,000.  Dividends  on  this  stock 
have  totalled  $8,000,000. 

Jabez  A.  Bostwick  joined  the  oil  trust  in  1870.  He  was 
one  of  the  organizers  of  the  South  Improvement  Co.  with 
John  D.  Rockefeller,  by  means  of  which  they  sought  to 
control  the  output  of  refineries  and  oil  wells  in  Pennsyl- 
vania. The  exposure  of  the  contract  between  the  South 
Improvement  Company  and  the  railroads  caused  a  serious 
panic  in  the  oil  business. 


60  STANDARD    OIL 


STANDARD  OIL  MONEY  IS   INVESTED   IN 
OTHER  LARGE  CORPORATIONS. 

Standard  Oil  money  is  invested  in  many  other  corpo- 
rations besides  those  already  mentioned.  One  of  these  is 
the  American  Coal  Products  Co.,  which  is  a  combination 
of  the  National  Coal  Tar  Co.,  Union  Coal  Tar  Chemical 
Co.,  W.  H.  Rankin  Co.,  N.  Y.  Coal  Tar  Chemical  Co., 
Barrett  Manufacturing  Co.,  Warren  Chemical  and  Manu- 
facturing Co.,  Commonwealth  Roofing  Co.,  Eastern 
Granite  Roofing  Co.,  and  United  Roofing  and  Manufactur- 
ing Co.     It  is  capitalized  at  $20,000,000. 

The  combination  was  dissolved  in  1913  by  the  federal 
government.  The  directors  of  the  company  were  Eversley 
Childs  and  W.  H.  Childs,  E.  H.  Ridder,  Stephen  Peabody, 
W.  L.  Mcllray,  T.  M.  Rianhard,  Charles  S.  Sargent,  Jr., 
Wm.  M.  Elkins,  H.  S.  Ehret,  F.  B.  Foster  and  A.  T.  Perry. 

Mr.  Rianhard  represents  Standard  Oil  money  in  other 
investments  and  he  is  director  in  the  American  Coke  and 
Gas  Co.,  German-American  Coke  Co.,  McKeesport  Gas 
Improvement  Co.,  Pittsburg  Gas  and  Coke  Co.,  and  United 
Coke  and  Gas  Co. 

The  Barrett  Manufacturing  Co.  furnishes  wood  paving 
to  the  city  of  New  York  and  other  companies  in  the  com- 
bination supply  roofing  material  for  the  subway.  William 
H.  Childs,  of  the  Barrett  Manufacturing  Co.,  and  director 
of  the  American  Coal  Products  Co.,  is  the  main  financial 
support  of  the  Progressive  Party  in  Brooklyn,  and  he  and 
Eversley  Childs  contributed  several  thousand  dollars  to  the 
''Fusion"  mayoralty  campaign  in  191 3. 


Standard  Oil  controls  the  Babcock  and  Wilcox  Com- 
pany, which  manufactures  water  tube  steam  boilers  and 
which  purchased   the  plant  of  the   Stirling  Consolidated 


OR    THE    PEOPLE  61 

Co.  in  Barbcrton,  Ohio,  in  1906,  and  the  patterns  of  the 
Rust  Boiler  Co.  in  1908.  The  company  has  branch  offices 
in  all  large  cities  and  in  Cuba  and  Porto  Rico.  The  capi- 
tal is  $15,000,000  and  dividends  seven  per  cent.  John  E. 
Eustis,  Public  Service  Commissioner  in  the  first  district 
embracing  Greater  New  York,  is  secretary  of  the  company 
and  Edward  R.  Stettinius  vice-president. 

Mr.  Stettinius  is  President  of  the  Diamond  Match  Co., 
capitalized  at  $16,000,000,  which  pays  10  per  cent  divi- 
dend annually  and  which  owns  vast  tracts  of  timber  land 
in  Massachusetts,  New  Hampshire,  Vermont,  Maine,  and 
California.  He  is  also  director  in  the  International  Agri- 
cultural Corporation,  Fidelity-Phenix  Fire  Insurance  Co., 
Irving  National  Bank  and  Model  Fire-proof  Tenement  Co. 

The  International  Agricultural  Corporation  is  capital- 
ized at  $36,000,000  and  owns  the  stock  of  several  allied 
corporations.  It  manufactures  and  sells  fertilizers  and 
farm  implements.  Its  assets  are  $46,000,000  and  surplus 
$6,085,700.  The  Fidelity-Phenix  Fire  Insurance  Co.  is 
capitalized  at  $2,50,000,  has  assets  of  $15,000,000  and 
surplus  of  $4,599,000.  It  pays  annual  dividends  of  10  per 
cent.  The  Model  Fireproof  Tenement  Co.  is  capitalized  at 
$200,000. 

Mr,  Stettinius  is  trustee  in  the  American  Surety  Co., 
which  is  capitalized  at  $5,000,000,  has  assets  of  $9,000,000 
and  surplus  of  $1,270,000.  It  paid  an  extra  dividend  of 
100  percent,  in  1912  in  addition  to  the  regular  dividend  of 
15  percent.  Grant  B.  Schley,  one  of  Henry  H.  Rogers' 
brokers,  is  trustee  in  this  company  as  is  R.  A.  Smith,  Dock 
Commissioner  of  New  York,  and  J.  B.  Duke  of  the  To- 
bacco Trust. 


Standard  Oil  money  is  invested  in  the  American  Cotton 
Oil  Company,  which  is  a  combination  of  twenty  leading 
corporations  supplying  useful  household  articles,  including 
soap,   washing   powder,   salad  oil,   etc.     The   company   is 


62  STANDARD    OIL 

capitalized  at  $30,400,000  and  has  assets  of  $42,000,000. 
Among  the  directors  are  Bradish  Johnson,  Wm.  J. 
Matheson,  Wm.  Nelson  Cromwell,  H.  F.  Fahnestock,  A. 
B.  Hepburn,  F.  L.  Hine  and  Charles  Lanier. 

The  monopoly  is  based  on  savings  in  the  transportation 
of  cotton  oil,  zvhich  is  the  basis  of  most  of  these  commodi- 
ties, and  which  is  shipped  from  the  companies'  plants  in 
the  South  to  various  parts  of  the  country  in  Standard  Oil 
tank  cars.  Up  to  the  time  the  combination  was  formed. 
Standard  Oil  cars  were  returned  empty  after  their  delivery 
of  oil  to  Southern  points.  Standard  Oil  devised  a  way  to 
steam  the  cars  after  each  oil  cargo,  and  reloaded  with 
cotton  oil  to  save  the  extra  freight  charge.  Cotton  oil  is 
frequently  used  as  a  substitute  for  olive  oil. 

Bradish  Johnson,  one  of  the  directors  in  this  company, 
which  controls  the  price  of  cotton  oil,  is  director  in  the 
Equitable  Life  Assurance  Society,  trustee  in  the  Equitable 
Trust  Company,  trustee  in  the  Greenwich  Savings  Bank, 
President  of  the  N.  K.  Fairbanks  Company  and  State  In- 
vesting Company,  director  in  the  Commonwealth  Insur- 
ance Co.  of  N.  Y.,  director  in  the  W.  J.  Wilcox  Lard  and 
Refining  Co.  and  President  of  the  Bradish  Johnson  Co. 
of  Louisiana. 

W.  J.  Matheson,  whose  lead  company  is  controlled  by 
Standard  Oil,  is  director  in  the  following:  American  Cot- 
ton Oil  Co.,  Bank  of  N.  Y.,  Corn  Products  Refining  Co., 
Fidelity  &  Casualty  Co.,  Continental  Insurance  Co.,  Home 
Life  Ins.  Co.,  Title  Guarantee  and  Trust  Co.,  Benzol- 
Products  Co.,  Cassella  Color  Co.,  General  Chemical  Co., 
Read  Phosphate  Co.,  Biological  Laboratory  and  Hoagland 
Laboratory,  and  Five  Hundred  and  Forty  Park  Ave. 

Wm.  Nelson  Cromwell  is  counsel  to  the  National  City 
Bank,  the  Rockefeller  Standard  Oil  institution. 


Standard  Oil  money  is  invested  in  the  Great  Western 
Power  Co.,  capitalized  at  $27,500,000,  with  assets  of  $50,- 


OR    THE    PEOPLE  63 

000,000.  which  is  developing  electric  power  in  California 
from  water.     A.  C.  Bedford  is  director  in  this  company. 

Standard  Oil  money  also  controls  the  Boylston  Manu- 
facturing Co.,  capitalized  at  $650,000,  which  manufactures 
shoe  machinery ;  the  International  Railway  Co.,  capitalized 
at  $16,320,500,  and  the  International  Traction  Co.,  capi- 
talized at  $15,000,000,  which  own  the  traction  lines  in 
Buffalo  and  part  of  Canada,  and  the  Matheson  Lead  Co., 
capitalized  at  $1,000,000,  which  is  part  of  the  National 
Lead  Co.,  known  as  the  lead  trust. 

The  capital  of  the  National  Lead  Co.  is  $50,000,000, 
and  it  owns  the  principal  lead  companies  in  the  United 
States,  including  the  United  Lead  Co.,  U.  S.  Cartridge  Co., 
Carter  White  Lead  Co.,  and  Heath  and  Milligan  Manu- 
facturing Co.  of  Chicago. 


64  STANDARD    OIL 


PUBLIC   SERVICE   CORPORATIONS   CON- 
TROLLED BY  ROCKEFELLER  AND 
STANDARD  OIL. 

John  D.  Rockefeller  and  his  associates  are  the  con- 
trolling factors  in  the  principal  gas  and  electric  light  and 
most  of  the  trolley  companies  in  the  United  States.  He 
and  other  beneficiaries  of  Standard  Oil  control  the  United 
Gas  Improvement  Company,  which  owns  the  gas  and  elec- 
tric plants  in  more  than  forty  cities  including  Allentown, 
Chester,  Reading,  Philadelphia,  Pa.,  and  Charleston,  S.  C, 
Concord,  N.  H.,  New  Haven,  Des  Moines,  Newark,  N.  J., 
Atlanta,  Kansas  City,  Mo.,  Minneapolis,  Omaha,  Paterson, 
Passaic  and  Jersey  City,  Nashville,  Tenn.,  St.  Augustine, 
Fla.,  Savannah,  Sioux  Falls,  Syracuse,  Vicksburg,  and 
Watertown,  N.  Y. 

The  United  Gas  Improvement  Co.  has  assets  of  $250,- 
000,000.  Its  main  office  is  in  Philadelphia.  The  company 
was  organized  by  the  Elkins-Widener  and  Dolan  combina- 
tion, and  Standard  Oil  controlled  it  from  the  beginning. 
Samuel  T.  Bodine,  son-in-law  of  William  G.  Warden,  one 
of  the  original  Standard  Oil  associates,  is  President  of  the 
company,  and  he  is  director  in  most  of  the  subordinate 
companies  including  the  Public  Service  Corporation  of 
New  Jersey,  with  assets  of  $85,000,000.  This  company 
controls  practically  all  the  gas,  electric  light  and  trolley 
companies  in  New  Jersey.  William  G.  Warden  and  his 
partners  owned  the  Atlantic  Refining  Co.  before  it  went 
into  the  oil  trust.  The  stock  of  the  company  is  quoted  at 
$800  a  share. 

The  Rockefeller-Standard  Oil  group  control  the  Public 
Service  Corporations  in  New  England  through  Marsden 
J.  Perry,  the  traction  financier,  and  through  Nelson  W. 
Aldrich,  father-in-law  of  young  John  D.  Rockefeller.    Mr. 


OR    THE    PEOPLE  65 

Aldrich  was  former  U.  S.  Senator  from  Rhode  Island  and 
a  large  factor  with  Thomas  F.  Ryan  in  the  rubber  ex- 
ploitation of  Africa. 

Mr.  Perry  is  director  in  the  Providence  Banking  Co., 
and  Chairman  of  the  Board  of  Directors  of  the  Union 
Trust  Company,  that  city.  He  was  a  close  friend  and 
business  associate  of  Henry  H.  Rogers  and  is  director  in 
the  Norfolk  Southern  R.  R.,  a  Rockefeller  property,  in 
the  American-La  France  Fire  Engine  Co.,  with  A.  C.  Bed- 
ford and  John  H.  Flagler,  both  of  Standard  Oil;  in  the 
John  L.  Roper  Co.,  American  Screw  Co.,  Denver  & 
Northwestern  R'y,  Electric  Bond  and  Share  Co.,  Electric 
Securities  Corporation,  General  Electric  Co.,  Nicholson 
File  Co.,  and  United  Traction  and  Electric  Co. 


The  Electric  Bond  and  Share  Co.  was  organized  in 
1905  to  purchase  securities  in  street  railway,  light,  power 
and  water  companies.  A.  C.  Bedford  is  director  in  this 
company,  which  has  assets  of  $16,000,000.  A  dividend  of 
$1,500,000  was  added  to  the  common  stock  in  January, 
1913.     The  capital  stock  is  $5,000,000  and  $5,000,000  pref. 

Standard  Oil  money  is  invested  in  the  People's  Gas 
Light  and  Coke  Company,  capitalized  at  $100,000,000.  The 
company  owns  a  dozen  smaller  corporations  and  controls 
the  Union  National  Gas  Corporation,  capitalized  at  $10,- 
000.000,  which  is  a  combination  of  a  dozen  separate  il- 
luminating companies  in  Ohio.  The  People's  CoiVipany 
furnishes  gas  to  Chicago  and  to  other  cities  in  Illinois  and 
Indiana,  the  fortune  of  C.  K.  Billings  having  been  derived 
from  the  company.  T.  E.  Murray  of  the  N.  Y.  Edison  Co. 
is  director  in  the  Indiana  Natural  Gas  and  Oil  Co.,  which 
is  part  of  the  People's  Company. 

The  Union  National  Gas  Corporation  is  composed  of 
the  Warren  and  Chautauqua  Gas  Co.,  Buckeye  Gas  Co., 
Logan  Gas  Co.,  Newark  Gas  Co.,  Athens  Gas  Light  and 
Electricity  Co.,  Freemont  Gas,  Electric  Light  and  Power 


66  STANDARD    OIL 

Co.,  Marion  Gas  Co.,  Bellevue  Gas  Co.,  Clyde  Gas  Co., 
Citizens'  Gas  Light  and  Coke  Co.  of  Findlay,  and  Citizens' 
Gas  and  Electric  Co.  of  Lorain  and  Elyria,  O.  It  also 
owns  half  of  the  Reserve  Gas  Co.  and  Connecting  Gas  Co. 
Joseph  Seep,  of  Standard  Oil,  is  a  director  in  the  Union 
National  Gas  Corporation. 


A.  C.  Bedford,  of  Standard  Oil,  is  director  in  the  East 
Ohio  Gas  Co.,  capitalized  at  $20,000,000.  The  company 
owns  the  Cleveland  Gas  Light  and  Coke  Co.,  Mohican  Oil 
and  Gas  Co.,  People's  Gas  Light  and  Coke  Co.,  and  other 
similar  organizations. 

The  Ohio  Fuel  Oil  Co.,  capitalized  at  $500,000,  and  the 
Ohio  Fuel  Supply  Co.,  capitaHzed  at  $15,000,000,  which  is 
a  combination  of  several  smaller  companies,  are  also  con- 
trolled by  Standard  Oil.  The  assets  of  the  latter  company 
are  $26,000,000.  //  paid  a  dividend  of  50  percent,  in  de- 
benture bonds  in  1910. 

The  Hope  Natural  Gas  Co.,  capitalized  at  $500,000,  is 
owned  by  Standard  Oil.  It  has  a  contract  with  the  Blue 
Creek  Coal  and  Land  Co.  for  oil  and  gas  rights  on  40,000 
acres  in  West  Virginia. 

Other  gas  companies  owned  or  controlled  by  Standard 
Oil  are  Clarksburg  Light  and  Heat  Co.,  capitalized  at 
$100,000;  Lawrence  Natural  Gas  Co.,  capitalized  at  $450,- 
000;  Mahoning  Gas  Fuel  Co.,  capital  $150,000;  Northern 
Ohio  Natural  Gas  Co..  capitalized  at  $2,775,250;  Mountain 
State  Gas  Co.,  capital  $500,000;  Pittsburg  Natural  Gas 
Co.,  capital  $310,000;  River  Gas  Co.,  capital  $190,000; 
Taylorsville  Natural  Gas  Co.,  capital  $10,000. 


Rockefeller-Standard  Oil  money  was  invested  in  the 
gas  and  electric  light  corporations  in  Boston,  Henry  H. 
Rogers  having  wrested  control  from  J.  Edward  Addicks  in 


OR    THE    PEOPLE  67 

1896,  and  they  are  interested  in  subordinate  gas  and  elec- 
tric light  companies  in  Massachusetts.  Henry  H.  Rogers' 
estate  shows  ownership  of  several  hundred  thousand  dol- 
lars bonds  of  the  trolley  lines  in  New  Bedford,  Mass. 


68  STANDARD    OIL 


STANDARD  OIL  CONTROLS  THE  BUSINESS 
AND  POLITICS  OF  PENNSYLVANIA. 

Besides  owning  the  output  of  the  oil  wells  in  Pennsyl- 
vania, Standard  Oil  and  its  beneficiaries  own  or  control 
most  of  the  railroads,  mines,  gas,  electric  light  and  local 
transportation  companies  in  the  state.  They  also  control 
most  of  the  banks  and  other  financial  institutions. 

P.  A.  B.  Widener,  Wm.  L.  Elkins,  Thomas  Dolan  and 
Samuel  T.  Bodine  are  the  principal  Standard  Oil  factors 
in  the  state,  while  Senators  Matthew  Quay  and  Boise  Pen- 
rose were  their  leading  political  representatives.  James 
I.  Buchanan,  President  of  the  Washington  Oil  Company, 
a  Standard  Oil  subsidiary,  is  also  an  important  business 
factor. 

Mr.  Buchanan  is  Vice-President  of  the  Big  Meadow 
Gas  Company,  Blacksville  Oil  and  Gas  Company, 
Cameron  Gas  and  Oil  Co.,  Citizens  Light  and  Heat  Co  of 
West  Middletown,  Citizens'  Natural  Gas  Co.  of  Beaver 
Co.,  Franklin-Washington  Gas  Co.,  Jefferson  Gas  Co., 
Manufacturers'  Light  and  Heat  Co.  of  Pa.,  Manufacturers' 
Gas  Company,  Manufacturers'  Gas  Co.  of  Ellwood  City, 
Manufacturers'  Light  and  Heat  Co.  of  West  Va.,. Montour 
Gas  Co.,  Natural  Fuel  Co.,  New  Cumberland  Water  and 
Gas  Co.,  Ohio  Valley  Gas  Co.,  Rochester  Fuel  Co.,  Se- 
wickeley  Gas  Co.,  Tri-State  Gas  Co.,  Western  Pa.  Gas  Co., 
Wetzel  Gas  Co.  and  Wheeling  Natural  Gas  Co. 

Mr.  Buchanan  is  also  President  of  the  Pittsburg  Trust 
Co.,  trustee  of  the  estate  of  J.  J.  Vandergrift,  one  of  the 
early  Standard  Oil  associates,  member  of  the  Board  of 
Education  in  Pittsburg,  director  of  the  Keystone  National 
Bank,  and  President  of  the  Pittsburg  Terminal  Warehouse 
and  Transfer  Co.  and  of  the  River  and  Railroad  Terminal 
Co. 

The  Manufacturers'  Light  and  Heat  Co.  is  a  combina- 


OR   THE    PEOPLE  69 

tion  of  most  of  the  other  iUuminating  companies  in  which 
Mr.  Buchanan  is  Vice-President  and  director.  It  is  capi- 
talized at  $25,000,000  and  supplies  the  entire  Ohio  Valley 
with  gas  from  New  Martinsville,  W.  Va.,  to  Pittsburg.  It 
leases  304,506  acres  of  natural  as  lands  in  Pennsylvania, 
West  Virginia  and  Ohio,  and  it  owns  2,500  miles  of  pipe  to 
distribute  the  gas.    It  has  assets  of  $31,000,000. 


General  Charles  Miller,  Chairman  of  the  Board  of 
Directors  of  the  Galena-Signal  Oil  Co.,  another  Standard 
Oil  subsidiary,  is  director  in  the  American  Locomotive 
Co.,  American  Steel  Foundries  Co.,  Franklin  Railway 
Supply  Co.,  and  President  of  the  First  National  Bank  and 
Y.  M.  C.  A.  in  Pittsburg. 

J.  French  Miller,  Secretary  of  the  Galena-Signal  Oil 
Co.,  is  President  of  the  Keystone  Carbon  Paper  Manu- 
facturing Co.  and  Buckingham  Coal  Mining  Co. ;  Vice- 
President  of  the  Alsace  Realty  Co.  and  director  in  the 
First  National  Bank,  Franklin  Manufacturing  Co.,  and 
General  Manifold  and  Printing  Co. 

George  C.  Miller,  superintendent  of  the  Galena-Signal 
Co.,  is  President  of  the  Fulcoum  Oil  Co.,  Hygienic  Baking 
Co.,  Sibley  Soap  Co.,  and  Kahler  &  Miller  Co.  of  Buffalo, 
and  director  in  the  Van  Winkle  Pen  Co.,  Oil  and  W^aste 
Saving  Machine  Co.,  and  General  Manifold  and  Printing 
Co. 

Le  Roy  G.  Miller,  manager  of  the  Railway  Department 
of  the  Galena-Signal  Co.,  is  director  in  the  Franklin  Manu- 
facturing Co.,  General  Manifold  and  Printing  Co.,  Key- 
stone Carbon  Paper  Manufacturing  Co.,  and  Topia  Mining 
Co. 


George  W.  Crawford,  director  in  the  Penn  Mexican 
Fuel  Co.,  controlled  by  the  South  Penn  Oil  Co.,  a  Standard 
Oil  subsidiary,  is  President  of  the  Fayette  County  Gas  Co., 


70  STANDARD    OIL 

Natural  Gas  Co.,  Oblong  Gas  Co.,  Ohio  Fuel  Oil  Co.,  Ohio 
Fuel  Supply  Co.,  and  Point  Pleasant  Natural  Gas  Co.  He 
is  also  a  director  in  the  Alleghany  Safe  Deposit  Co.,  De- 
vonian Oil  Co.,  United  Fuel  Gas  Co.,  and  Lone  Star  Gas 
Co. 

J.  W.  R.  Crawford  is  vice-president  of  the  People's 
Natural  Gas  Co.  and  United  Fuel  Gas  Co. 

E.  E.  Crocker  and  R.  W.  Cummins,  Vice-President  and 
Secretary  of  the  South  Penn  Oil  Co.,  are  directors  of  the 
Hazelwood  Oil  Co. 

Others  who  are  identified  with  Standard  Oil  in  these 
various  enterprises  are  Harry  C.  Reeser,  who  is  Secretary 
and  Treasurer  of  many  of  them,  and  M.  C.  Treat,  who  is 
Secretary  of  the  National  Transit  Co.  and  of  the  New  Do- 
main Oil  and  Gas  Co. 

E.  H.  Jennings,  of  the  Pure  Oil  Company,  formerly 
Standard  Oil's  principal  rival  in  this  country,  is  director 
in  several  of  the  gas  companies  in  Pennsylvania  controlled 
by  Standard  Oil,  and  in  several  banks  and  trust  companies 
in  Pittsburg. 


The  United  Fuel  Gas  Co.,  of  which  A.  C.  Bedford  and 
the  Crawfords  are  directors,  is  capitalized  at  $10,000,000; 
Fayette  County  Gas  Co.,  at  $1,600,000;  Ohio  Fuel  Supply 
Co.,  $15,000,000;  Devonian  Oil  Co.,  $500,000;  Keystone 
Carbon  Paper  Mfg.  Co.,  $5,000,000;  General  Manifold  and 
Printing  Co.,  $1,000,000;  East  Ohio  Gas  Co.,  $10,000,000; 
Lone  Star  Gas  Co.,  $3,500,000;  Oblong  Gas  Co.,  $100,000; 
Ohio  Fuel  Oil  Co.,  $500,000;  Western  Pa.  Gas  Co.,  $100,- 
000;  Citizens'  Natural  Gas  Co.  of  Beaver  Co.,  $100,000. 

The  American  Steel  Foundries  Co.,  of  which  General 
Charles  Miller  is  chairman  of  the  board  of  directors,  is 
capitalized  at  $17,184,000  and  has  assets  of  $27,000,000, 
and  the  American  Locomotive  Co.,  of  which  General  Mil- 
ler is  also  director,  is  capitalized  at  $50,000,000,  with  assets 
of  $80,000,000. 


OR    THE    PEOPLE  71 

The  Standard  Oil  trust  before  dissolution  owned  70  per 
cent,  of  the  common  and  84.37  P^i"  cent,  of  the  preferred 
stock  of  the  Galena-Signal  Oil  Co.,  zvhich  supplies  lubri- 
cating oil  to  all  the  railroads  in  the  United  States  and  to 
most  of  them  in  Canada,  South  America  and  France. 


Standard  Oil  money  is  also  invested  in  the  People's 
Natural  Gas  Co.,  which  owns  the  Pittsburg  Natural  Gas 
Co.  and  Conemaugh  Gas  Co.,  which  pipes  gas  from  wells 
in  Armstrong,  Westmoreland  and  Alleghany  Counties, 
Penn.,  and  supplies  natural  gas  to  Pittsburg.  The  capital 
stock  of  the  company  is  $11,300,000,  and  A.  C.  Bedford  is 
its  President. 

The  Pennsylvania  Gas  Co.  supplies  gas  to  Clarendon, 
Warren,  Corry,  Erie,  Faulkner  and  Sheffield,  Pa.,  and 
Jamestown  and  Elliott,  N.  Y.  The  company  has  assets  of 
$13,000,000  and  pays  dividends  of  10  per  cent.  The  Presi- 
dent is  Walter  Jennings,  of  Standard  Oil,  and  L.  B.  Dryer 
and  Joseph  Seep,  both  of  Standard  Oil,  are  also  directors. 
Seep  is  also  director  in  the  Seaboard  National  Bank  with 
deposits  of  $36,000,000,  and  he  is  director  in  the  Mines 
and  Smelters  Supply  Co.,  capitalized  at  $1,500,000. 


Standard  Oil  money  is  also  invested  in  the  Franklin 
National  Gas  Co.  of  Pa.,  United  Gas  Co.  of  Oil  City.  Pa., 
and  New  England  Gas  and  Coke  Co. 


72  STANDARD    OIL 


THE  FAMOUS  DOLAN-WIDENER-ELKINS 

SYNDICATE. 

Standard  Oil  capital,  besides  their  own  fortune,  was  in 
practically  every  venture  in  which  this  combination  was 
engaged.  When  they  organized  the  United  Gas  Improve- 
ment Company  thirty  years  ago,  Standard  Oil  money  was 
largely  behind  them.  Elkins  was  part  of  Standard  Oil  for 
several  years  prior  to  that  time,  and  his  fortune  originated 
with  the  oil  trust.  The  United  Gas  Improvement  Com- 
pany, as  already  told,  owns  and  controls  the  light,  heat 
and  traction  companies  in  more  than  forty  large  cities,  be- 
sides most  of  the  traction  companies  in  New  Jersey.  Do- 
lan,  Widener  and  Elkins  also  acquired  control  of  the  sur- 
face railways  in  New  York,  Chicago,  Philadelphia,  Pitts- 
burg aand  Baltimore. 

P.  A.  B.  Widener  is  the  largest  stockholder  in  the  Read- 
ing Railroad,  owning  100,000  shares  out  of  a  total  of 
1,400,000,  or  one-fourteenth  of  the  stock,  valued  at  $8,- 
250,000.  Oliver  H.  Payne  ,of  Standard  Oil,  owns  15,000 
shares.  The  Reading  Company  ozvns  half  the  available 
coal  supply  of  Pennsylvania.  Mr.  Widener  was  director 
in  the  Pennsylvania  Railroad,  United  States  Steel  Corpo- 
ration, International  Mercantile  Marine  Company  and 
American  Tobacco  Company,  all  leading  factors  in  the 
commercial  life  of  America.  He  was  also  director  in  the 
leading  traction  corporations,  including  the  Metropolitan 
Street  Railway  Co.  of  New  York. 

Thomas  Dolan  was  director  in  the  Metropolitan  Street 
Railway,  Continental  Tobacco  Co.,  William  Cramp  and 
Son,  United  Gas  Improvement  Co.,  and  a  score  of  other 
important  corporations  in  which  he,  Widener  and  Elkins 
were  jointly  interested. 

THE  FORTUNE  OF  EACH  OF  THESE  MEN  EX- 
CEEDS $50,000,000. 


OR    THE    PEOPLE  73 

CLEMENT  A.  GRISCOM. 

Clement  A.  Griscom,  who  died  several  years  ago,  was 
an  important  Standard  Oil  factor.  He  was  President  of 
the  National  Transit  Company,  the  Standard  Oil  pipe  line 
subsidiary,  of  which  Henry  H.  Rogers  was  afterwards 
official  head.  He  was  also  President  of  the  International 
Navigation  Company,  which  was  absorbed  by  the  Interna- 
tional Mercantile  Marine  Co.  (the  shipping  trust).  The 
bonds  of  the  Navigation  Co. — $18,143.000 — are  guaranteed 
by  the  trust. 

Mr.  Griscom  was  also  director  in  the  Atlantic  Mutual 
Insurance  Co.,  of  which  Charles  M.  Pratt  is  director ;  Bank 
of  North  America,  Commercial  Trust  Co.  of  Philadelphia, 
Insurance  Company  of  North  America,  of  w^hich  Charles 
Pratt  is  director  Mercantile  Trust  Co.,  Pennsylvania  Rail- 
road, N.  Y.,  Philadelphia  and  Norfolk  Railroad,  and 
United  Gas  Improvement  Co.,  of  which  S.  T.  Bodine  is 
now  President. 

Mr.  Griscom  was  also  director  in  the  Long  Island  Rail- 
road and  U.  S.  Steel  Corporation,  and  in  William  Cramp 
and  Son  Ship  and  Engine  Building  Co.,  besides  other  cor- 
porations. His  son,  Lloyd,  z>.vs  chairman  of  the  republican 
county  committee  in  Nezv  York  County  in  1910  and  191 1. 

HENRY  CLAY  PIERCE. 

Standard  Oil  has  owned  the  majority  of  stock  in  the 
Waters-Pierce  Company,  which  was  prosecuted  and  con- 
victed as  a  branch  of  the  oil  trust  in  the  state  of  Texas. 
After  the  conviction  a  formal  sale  of  2,y4y  shares  of 
Waters-Pierce  stock  "d-'as  made  by  John  D.  Rockefeller  to 
Mr.  Pierce  at  $1,500  a  share.  Standard  Oil  acquired  con- 
trol of  the  Waters-Pierce  Company  twenty-five  years  ago. 
so  the  fortune  of  Henry  Clay  Pierce,  acquired  since  that 
time,  must  be  linked  with  the  oil  trust. 

Mr.  Pierce  is  the  controlling  factor  in  many  important 
corporations  in  Mexico.     In  1910  he  was  director  in  the 


74  STANDARD    OIL 

Mexican-American  Steamship  Company,  Mexican  and 
Northern  S.  S.  Co.,  Mexican  National  Construction  Co., 
Mexican  Pacific  Railway  Co.,  National  Railways  of 
Mexico,  Bank  of  Commerce  and  Industry,  City  of  Mexico, 
Tennessee  Construction  Co.,  and  Title  Guarantee  and 
Trust  Co. 

Prior  to  1910  Mr.  Pierce  was  director  in  the  American 
Central  Insurance  Co.  of  St.  Louis,  Baltimore  and  Ohio 
Southern  Railroad,  International  Banking  Corporation, 
Kansas  City  Southern  Ry.  Co.,  Mercantile  Fire  and  Ma- 
rine Ins.  Co.  of  Boston,  Mexican  Central  Ry.  Co.,  Missis- 
sippi Valley  Trust  Co.  of  St.  Louis,  National  Bank  of 
Commerce  of  St.  Louis,  St.  Louis  and  San  Francisco  R.  R., 
Seaboard  Air  Line  R.  R.,  and  Water-Pierce  Oil  Co. 


OR    THE    PEOPLE  75 


MARSTON  AND  BAYNE,  IMPORTANT 
STANDARD  OIL  BANKERS. 

Standard  Oil  has  many  important  agents  besides  those 
already  mentioned.  One  of  these  is  Edgar  L.  Marston  of 
Blair  and  Co.,  Standard  Oil  bankers,  and  another  is 
Samuel  G.  Bayne,  President  of  the  Seaboard  National 
Bank.  Mr.  Bayne's  son  Howard  is  Vice-President  of  the 
Columbia-Knickerbocker  Trust  Co. 

Mr.  Marston  is  head  of  the  Rockefeller  General  Edu- 
cation Board,  and  he  acquired  the  $3,550,000  bonds  of  the 
Magnolia  Oil  Co.  of  Texas,  owned  by  Standard  Oil,  when 
the  Magnolia  company  was  prosecuted  as  part  of  the  oil 
trust.  Mr.  S.  G.  Bayne,  w^ho  was  President  of  the  Security 
Oil  Co.  of  Texas,  also  owned  by  Standard  Oil,  took  the 
bonds  of  the  Magnolia  Company  to  Europe,  turned  them 
over  to  the  London  Commercial  Trading  and  Investment 
Co.,  which  transferred  them  to  the  American  Petroleum 
Co.  Mr.  Marston  transferred  $2,400,000  of  the  bonds  to 
John  D.  Rockefeller,  $500,000  to  Lewis  Cass  Ledyard, 
$400,000  to  Charles  W.  Harkness,  and  $250,000  to  Charles 
M.  Pratt. 

Mr.  Marston  is  director  in  the  Clinchfield  Coal  Corpo- 
ration with  Frank  A.  Vanderlip.  and  in  the  Western 
Maryland  R.  R.  with  the  Rev.  F.  T.  Gates.  He  is  also 
director  in  the  Texas  and  Pacific  with  Henry  E.  Cooper, 
in  the  Title  Guarantee  and  Trust  Co.  with  E.  T.  Bedford, 
and  in  the  following:  Borden's  Condensed  Milk  Co.  and 
Borden's  Condensed  Milk  Co.  of  Canada,  Brown  Ware- 
house Co.,  Central  Vermont  Railway  Co.,  Davis  Coal  and 
Coke  Co.,  Denver  and  Rio  Grande  Railway  Co.,  Lehigh 
Coke  Co.,  Madison  Ave.  Co.,  Missouri  Pacific  Railway, 
Pond's  Extract  Co.,  St.  Louis,  Iron  Mountain  and  South- 
ern Railway  Co.,  Sussex  Realty  Co.,  Texas  and  Pacific 
Coal  Co.,  Texas-Pacific  Mercantile  Manufacturing  Co.,  and 


76  STANDARD    OIL 

Western  Pacific  Railway  Co.  He  is  also  director  in  the 
Astor  Trust  Co.,  Astor  Safe  Deposit  Co.,  Bankers'  Trust 
Co.,  City  National  Bank  of  Dallas,  and  trustee  in  Brown 
University  and  Vassar  College. 

Edward  S.  Marston,  of  Blair  &  Co.,  is  director  in  the 
American  Sugar  Refining  Co.,  East  River  Gas  Co.,  Fort 
Wayne  and  Jackson  Railroad  Co.,  Lackawanna  Steel  Co., 
New  Amsterdam  Gas  Co.,  New  Jersey  Zinc  Co.,  N.  Y. 
Mutual  Gas  Light  Co.,  N.  Y.  Railways  Co.,  which  operates 
surface  lines  in  Manhattan  and  the  Bronx,  and  the  Vir- 
ginian Railway  built  by  Henry  H.  Rogers.  He  is  Presi- 
dent of  the  Farmers'  Loan  and  Trust  Co.,  and  Detroit, 
Hillsdale  and  Southern  Railroad  Co.,  and  trustee  in  the 
Greenwich  Savings  Bank  and  Mutual  Life  Insurance  Co. 

SAMUEL  G.  BAYNE. 

The  Seaboard  National  Bank,  of  which  Samuel  G. 
Bayne  is  President,  has  deposits  of  $36,000,000.  Joseph 
Seep,  of  Standard  Oil,  is  director  in  the  bank.  Mr.  Bayne 
has  been  affiliated  with  Standard  Oil  and  John  D.  Rocke- 
feller about  forty  years.  He  was  originally  an  oil  pro- 
ducer in  Pennsylvania;  then  he  organized  national  banks 
in  various  parts  of  the  country  in  financing  oil  enterprises. 

Mr.  Bayne  is  director  in  the  N.  Y.  Produce  Exchange 
Safe  Deposit  and  Storage  Co.,  with  other  members  of  the 
Standard  Oil  family.  He  is  also  director  in  the  Bankers' 
Trust  Co.,  Columbia-Knickerbocker  Trust  Co.,  and  Presi- 
dent of  the  Atlas  Co. 

Howard  Bayne,  besides  being  Vice-President  of  the 
Columbia-Knickerbocker  Trust  Co.,  is  director  in  the 
Federal  Light  and  Traction  Co.,  McCall  Co.  and  McCall 
Corporation.  The  Federal  Light  and  Traction  Co.  con- 
trols lighting  and  trolley  companies  in  Arizona,  New 
Mexico,  Washington,  Colorado,  Oklahoma  and  Arkansas. 
The  McCall  corporation  owns  the  McCall  Fashion  Book 
and  the  McCall  Company  owns  the  McCall  Magazine. 


OR    THE    PEOPLE  11 


OTHER  CORPORATIONS  IN  WHICH  STAND- 
ARD OIL  BENEFICIARIES  ARE 
FACTORS. 

V.  Everit  Macy,  who  in  1907  held  7,300  shares  of 
Standard  Oil  valued  at  $5,000,000,  is  director  in  the  Al- 
bany Southern  R.  R.,  American  Cold  Storage  and  Ship- 
ping Co.,  Century  Mortgage  Co.,  City  and  Suburban 
Homes  Co.,  Corliss  Macy  &  Co.,  Parish,  Stafford  Co., 
General  Lubricating  Co.,  Hewlitt  Bay  Co.,  Manufacturers' 
Commercial  Co.,  N.  Y.  Dairy  Demonstration  Co.,  Provi- 
dence Engineering  Co.,  Provident  Loan  Society,  Queens 
Boro  Gas  and  Electric  Co.,  and  Southern  Improvement 
Co.  of  N.  Y.  He  is  also  director  in  the  Union  Mortgage 
Co.,  Bank  of  Long  Island,  and  Mechanics  and  Metals  Na- 
tional Bank  with  Charles  AI.  Pratt,  Percy  A.  Rockefeller 
and  H.  H.  Rogers. 

HENRY  S.  THOMPSON. 

Henry  S.  Thompson,  former  Commissioner  of  Water 
Supply,  Gas  and  Electricity  in  New  York  City,  is  a  large 
Standard  Oil  beneficiary.  Mr.  Thompson's  father  sold 
out  to  the  trust  and  retained  a  large  block  of  stock  in  it. 
Mr.  Thompson  is  director  in  the  Belnord  Realty  Co.,  which 
owns  the  Belnord  Apartment  House  on  Amsterdam  ave., 
Broadway,  86th  and  87th  streets;  president  of  the  Boule- 
vard Realty  Co.,  capitalized  at  $500,000,  which  owns  the 
Hotel  Marie  Antoinette;  vice-president  of  the  Globe  and 
Rutgers  Fire  Insurance  Co.,  president  of  the  Golden  Hill 
Building  Co.  which  leases  Nos.  59  to  65  John  street,  presi- 
dent of  the  Permutit  Co.  capitalized  at  $12,500,000,  and 
director  in  the  Union  Exchange  National  Bank.  John  D. 
Rockefeller,  Jr.,  is  understood  to  be  interested  with  Mr. 


7%  STANDARD    OIL 

Thompson  in  the  Permutit  Co.,  which  owns  a  patent  for 
the  chemical  purification  of  water. 

THE  BREWSTER  FAMILY. 

George  S.  Brewster,  who  held  2,565  shares  of  Standard 
Oil  in  1907,  is  director  in  the  Atlantic  Safe  Deposit  Co., 
American  Trading  Co.,  Chattel  Loan  Society  of  New 
York,  U.  S.  Industrial  Alcohol  Co.,  and  Brewster  &  Co. 

Robert  S.  Brewster,  who  owned  2,540  shares  of  Stand- 
ard Oil  in  1907,  is  director  in  the  Atlantic  Insulated  Wire 
&  Cable  Co.,  Brearley  School  Ltd.,  Stirling  Oyster  Co., 
and  Brewster  &  Co. 

Benjamin  Brewster  was  one  of  the  original  members 
of  the  Standard  Oil  trust,  and  a  large  block  of  Standard 
Oil  stock  is  held  by  Elmira  D.  and  F.  F.  Brewster. 

The  American  Trading  Company  is  capitalized  at 
$5,000,000,  and  Brewster  &  Co.  at  $2,000,000. 

JOHN   E.   BORNE 

John  E.  Borne,  former  president  of  Borne  and  Scrym- 
ser  Co.,  a  Standard  Oil  subsidiary,  who  died  recently,  was 
president  of  the  Nassau  Electric  Railroad  in  Brooklyn  and 
director  in  the  following:  Audit  Co.  of  New  York,  Citi- 
zens Water  Supply  Co.  of  Newtown,  Colonial  Safe  De- 
posit Co.,  Cord  Meyer  Development  Co.,  Five  Hundred 
and  Forty  Park  avenue,  Griswold  Worsted  Co.  of  Phila- 
delphia, Home  Life  Ins.  Co.,  International  Steam  Pump 
Co.,  Lanyon  Zinc  Co.,  Mt.  Morris  Bank,  Mutual  Bank, 
Plaza  Bank,  Traction,  Gas  and  Electric  Finance  Co., 
Trust  Co.  of  America  and  Western  N.  Y.  and  Penn  Trac- 
tion Co.,  with  assets  of  $6,000,000. 

JAMES  A.   SCRYMSER 

James  A.  Scrymser  is  director  in  the  Central  and  South 
American  Telegraph  Co.,  president  of  the  Mexican  Tel- 


OR    THE    PEOPLE  79 

egraph  Co.  and  trustee  in  the  Norwich-Union  Fire  Insur- 
ance Society. 


John  G.  Milburn,  special  counsel  to  Standard  Oil,  is 
director  in  the  American  Express  Co.  with  Charles  M. 
Pratt,  Manilla  R.  R.,  National  Park  Bank  and  trustee  in 
the  New  York  Life  Insurance  Co. 


S.  C.  T.  Dodd,  late  attorney  for  Standard  Oil,  was 
director  in  the  Sussex  Zink  and  Franklemite  Co.  and  the 
Trust  Company  of  America. 


A  group  of  young  men  who  have  profited  out  of  Stand- 
ard Oil  are  the  members  of  the  Doremus  family  on 
Staten  Island,  nephews  of  the  late  William  T.  Wardwell, 
one  of  the  original  Standard  Oil  group.  Mr.  Wardwell 
was  director  in  the  Colonial  Trust  Co.  and  Greenwich 
Savings  Bank.  A.  J.  and  Harry  Doremus  are  directors  in 
the  General  Oil  Co. 


80  STANDARD    OIL 


THE    STANDARD    OIL-HENRY    H.    ROGERS 

COMBINATION. 

Henry  H.  Rogers  controlled  the  public  service  corpor- 
ations along  the  New  Jersey  coast  and  on  Staten  Island 
and  associated  with  him  as  representatives  were  S.  F. 
Hazelrigg  of  Staten  Island;  William  R.  Coe,  and  William 
Evarts  Benjamin,  besides  his  son-in-law,  U.  H.  Brough- 
ton. 

Hazelrigg  is  president  of  the  Atlantic  Coast  Railway 
Co. ;  director  in  the  New  Jersey  and  Staten  Island  Ferry 
Co.,  vice-president  of  the  Richmond  Light  and  Ferry  Co., 
president  of  the  Southfield  Beach  Railroad,  Staten  Island 
Midland  Railway  Co.,  West  End  and  Long  Branch  Rail- 
road, Asbury  Park  and  Sea  Girt  Railway,  and  director  in 
the  Sea  Coast  Traction  Co.,  Seashore  Electric  Railway, 
Atlantic  Coast  Electric  Light  Co.,  and  Sea  Coast  National 
Bank  of  Asbury  Park. 

Benjamin,  who  was  related  to  Rogers,  was  director  in 
the  Atlas  Tack  Co.,  in  which  Rogers  had  large  holdings, 
and  the  Virginian  Railway,  built  by  Rogers.  The  Atlas 
Tack  Co.  is  capitalized  at  $1,000,000  and  has  a  large  fac- 
tory in  Fairhaven,  Mass.,  which  is  a  consolidation  of  six- 
teen plants. 

Coe  is  director  in  the  Atlantic  Coast  Railway  Co., 
Staten  Island  Midland  Railway  Co.,  Atlas  Tack  Co.,  Vir- 
ginian Railway,  and  President  of  Johnson  and  Higgins, 
insurance  underwriters. 

Urban  H.  Broughton  is  director  in  the  Anaconda 
Mining  Co.,  Atlas  Tack  Co.,  Staten  Island  Midland  Rail- 
way Co.,  Virginian  Railway  Co.,  and  vice-president  of 
the  Shone  Co.  of  Chicago. 

Henry  H.  Rogers,  who  succeeded  his  father,  is  director 
in  the  Amalgamated  Copper  Co.,  Anaconda  Copper  Co., 


OR    THE    PEOPLE  81 

Virginian  Railway,  United  xMctals  Selling  Co.,  Brooklyn 
Union  Gas  Co.,  Atlas  Tack  Co.,  Atlantic  Coast  Electric 
Railway,  Mechanics  and  Metals  National  Bank,  and  Shone 
Co. 


82  STANDARD    OIL 


LARGEST    PRIVATE    FORTUNES     IN 

AMERICA  ARE  LINKED  WITH 

STANDARD  OIL. 

Standard  Oil  is  the  most  important  financial  factor  in 
the  United  States  if  not  in  the  world,  and  the  fortunes  of 
the  richest  families  are  linked  with  it.  The  Rockefellers 
and  their  associates  control  most  of  the  railroads  formerly 
owned  by  the  Vanderbilts,  Goulds  and  Huntingtons,  and 
the  fortunes  of  these  families  are  tied  with  theirs.  The 
fortunes  of  Harriman,  Schiff,  Blair  and  Astors  are  also 
tied  with  the  Rockefellers  and  the  fortunes  of  the  leading 
bankers  in  America  are  based  on  Standard  Oil  investments. 

IN  FACT  THE  ENTIRE  BUSINESS  STRUCTURE 
OF  AMERICA  TO-DAY  RESTS  ON  A  ROCKEFEL- 
LER FOUNDATION,  THE  FORTUNES  OF  ALL  THE 
RICHEST  FAMILIES  BEING  INTERTWINED. 
THEY  ARE  INVESTED  IN  SECURITIES  IN  WHICH 
THE  STANDARD  OIL  GROUP  ARE  THE  LEADING 
FINANCIAL  FACTORS. 

Besides  those  whose  fortunes  are  tied  with  Standard 
Oil  in  business,  some  of  the  richest  families  are  related  by 
marriage  to  the  Rockefellers.  John  D.  Rockefeller,  Jr., 
is  married  to  Abbey  Greene  Aldrich,  daughter  of  former 
U.  S.  Senator  Nelson  W.  Aldrich,  of  Rhode  Island.  Mr. 
Aldrich  was  the  leader  of  the  Senate  when  McKinley  was 
President  and  v/hen  the  Senate  was  classed  as  the  repre- 
sentative of  the  money  oligarchy.  Aldrich  is  interested  in 
ruhher  with  Thomas  F.  Ryan  and  in  traction  in  Nezv 
England  and  his  wealth  is  estimated  at  more  than  $25,- 
000,000. 

Edith  Rockefeller,  daughter  of  John  D.,  is  married  to 


OR   THE    PEOPLE  83 

Harold  F.  McCormack,  who,  with  his  brother,  inherited 
the  milhons  of  his  father  and  grandfather  made  out  of 
reaper  machines.  They  are  the  controlling  factors  in  the 
International  Harvester  Company,  the  harvester  trust,  or- 
ganized by  George  F.  Perkins,  and  capitalized  at  $70,000,- 
000.  The  capital  was  double  this  amount  when  the  trust 
was  organized.  The  harvester  trust  imposes  a  heavy  tax 
on  all  farm  and  agricultural  products  because  of  the  high 
price  of  its  implements. 

William  G.  Rockefeller,  son  of  William  Rockefeller,  is 
married  to  Elsie  Stillman,  daughter  of  James  Stillman, 
organizer  of  the  National  City  Bank.  Mr.  Stillman  lives 
in  Paris,  and  is  estimated  to  be  worth  $100,000,000.  He 
is  director  in  a  score  of  banks  and  insurance  companies, 
and  in  many  of  the  leading  railroads  and  industrial  cor- 
porations. His  daughter  Isabel  G.  Stillman  is  married  to 
Percy  A.  Rockefeller,  another  son  of  William  Rocke- 
feller. 

Emma  Rockefeller,  daughter  of  William  Rockefeller,  is 
the  wife  of  Dr.  David  Hunter  McAlpin,  who  inherited  part 
of  the  millions  of  the  McAlpin  family,  made  out  of  to- 
bacco. The  ground  on  which  the  McAlpin  Hotel  stands, 
at  Broadway  and  34th  street,  is  owned  by  the  McAlpin 
family  and  David  Hunter  McAlpin  is  director  in  the  Gree- 
ley Square  Hotel  Company,  which  operates  the  ]McAlpin 
Hotel.  He  is  also  director  in  the  First  National  Bank  of 
Morristown  and  John  J.  Crooke  Co.  Other  members  of 
the  McAlpin  family  are  directors  in  the  Dupont  Co., 
Hygeia  Distilled  Water  Co.,  Kelley  Ticket  Machine  Co.. 
Mac-a-Mac  Corporation,  Great  Eastern  Casualty  Co.,  and 
the  Woman's  Hotel  Co. 

Ethel  Geraldine  Rockefeller,  daughter  of  William 
Rockefeller,  is  married  to  Marcellus  Hartley  Dodge,  who 
inherited  the  millions  of  his  grandfather  Marcellus  Hart- 
ley, derived  from  firearms  and  cartridges.  Mr.  Dodge  is 
president  of  the  Remington  Arms  Co.,  vice-president  of  the 
Union  Metallic  Co.,  director  in  the  Lincoln  Bank  and  trus- 


84  STANDARD    OIL 

tee  in  Columbia  College.  He  was  also  trustee  in  the 
Equitable  Trust  Co.,  International  Banking  Corporation 
and  M.  Hartley  Co. 

The  leading  fortunes  in  the  United  States  are  linked 
by  marriage  to  other  Standard  Oil  families,  the  aggregate 
wealth  of  all  of  them  being  several  billion  dollars.  THE 
IMPORTANCE  OF  STANDARD  OIL  AND  THE 
ROCKEFELLERS  AS  CONTROLLING  FINANCIAL 
FACTORS  CANNOT,  THEREFORE,  BE  EXAGGER- 
ATED. 


OR    THE    PEOPLE  85 


TWO    HUNDRED    MILLION    DOLLARS    OF 

STANDARD    OIL   MONEY   INVESTED 

IN   NEW    YORK   CITY. 

A  large  share  of  Standard  Oil  millions  besides  those  of 
the  Rockefellers,  is  invested  in  and  around  New  York 
City. 

While  John  D.  Rockefeller  is  the  largest  shareholder 
in  Consolidated  Gas  and  Manhattan  Elevated  Railroad, 
other  Standard  Oil  beneficiaries  are  drawing  large  profits 
out  of  other  business  ventures  in  New  York. 

AT    LEAST    $200,000,000    OF    STANDARD    OIL 

MONEY  IS  INVESTED   IN  AND   AROUND  NEW 

YORK  CITY,  THE  ANNUAL  PROFITS  EXCEEDING 

%2S,ooo,ooo— AN  AVERAGE  OF  $5  A  YEAR  PROFIT 

FROM  EVERY  MAN,  WOMAN  AND  CHILD  IN  THE 

CITY. 

TITLE    GUARANTEE    AND    TRUST    COMPANY. 

The  Title  Guarantee  and  Trust  Co.,  which  owns  mil- 
lions of  dollars  of  mortgages  on  New  York  City  property 
and  has  disposed  of  several  hundred  million  dollars  of 
mortgages  to  investors,  is  dominated  by  Standard  Oil. 
E.  T.  Bedford,  of  the  Standard  Oil  family,  is  director  in 
the  company,  which  has  assets  of  $45,000,000  on  a  capital 
of  $5,000,000,  and  pays  20%  annual  dividends. 

The  Title  Guarantee  and  Trust  Company  owns  the 
Realty  Associates,  with  assets  of  $12,000,000,  and  the 
Bond  and  Mortgage  Co.,  through  which  it  loans  money 
on  city  real  estate.  These  mortgages  are  either  held  by 
the  company  or  sold  to  investors.  The  Realty  Associates 
own  many  parcels  of  property  in  New  York  City,  some  of 
which  it  has  sold  for  extravagant  sums  to  the  City  of  Nezu 


86  STANDARD    OIL 

York,  notably  a  piece  of  water  front  in  South  Brooklyn, 
for  zvhich  it  received  $800,000. 

The  Realty  Associates  also  owns  the  Neponsit  Com- 
pany, which  recently  sold  a  tract  of  land  at  Rockaway 
Park  for  $1,225,000  to  the  City  of  New  York.  The  Title 
Guarantee  &  Trust  Company  owned  the  mortgage  on 
Dreamland,  for  which  the  city  is  paying  $1,000,000,  and 
it  owns  the  mortgage  on  a  parcel  of  land  in  South  Brook- 
lyn which  is  being  acquired  by  the  city  for  several  million 
dollars  for  use  as  a  barge  canal  terminal. 

The  Title  Guarantee  and  Trust  Company  owns  a  con- 
trolling interest  in  the  Thompson-Starrett  Construction 
Co.,  which  does  an  annual  gross  business  of  $20,000,000 
and  which  erected  the  city's  municipal  building.  E.  T. 
Bedford  is  also  director  in  this  company. 

U.  S.  REALTY  AND  IMPROVEMENT  COMPANY. 

Standard  Oil  money  is  invested  in  the  United  States 
Realty  and  Improvement  Co.,  capitalized  at  $16,162,000, 
with  assets  of  $34,000,000.  Frank  A.  Vanderlip,  president 
of  the  National  City  Bank,  is  director  in  this  company,  the 
net  earnings  of  which  in  1912  were  $2,078,062.  The  com- 
pany owns  the  Trinity,  Whitehall,  Fuller  and  U.  S.  Realty 
Building  and  many  other  smaller  parcels  throughout  the 
city.  It  also  owns  the  Plaza  operating  Company,  which 
owns  and  operates  the  Plaza  Hotel,  and  it  controls  the 
Alliance  Realty  and  Broad-Exchange  Realty  Companies, 
which  own  other  large  office  buildings. 

It  controls  the  Lawyers'  Mortgage  Company,  capital- 
ized at  $6,000,000  and  which  pays  12  percent  dividend. 
Through  the  bond  and  mortgage  companies  which  they 
control  and  through  the  banks  and  insurance  companies 
zvhich  lend  money  on  real  estate,  Standard  Oil  beneiiciaries 
control  the  disposition  of  most  of  the  real  estate  in  New 
York  City.  The  Pratt  mortgage  institution  known  as 
Thrift,  holds  more  than  1,400  mortgages  on  city  property. 


OR    THE    PEOPLE  87 

CHILDS'   RESTAURANT   COMPANY 

Standard  Oil  money  is  invested  in  the  Childs  Restau- 
rant Co.  and  draws  large  profits.  The  company  is  capi- 
talized at  $3,500,000  preferred  and  $4,000,000  common 
stock.  The  preferred  pays  7  and  the  common  10  percent 
dividends.  One  million  dollars  zvas  added  to  the  common 
stock  of  the  company  a  fen.'  years  ago  by  the  payment  of  a 
dividend  of  2)Z  ^"3  percent.  The  assets  are  $10,000,000. 
The  company  operates  100  restaurants  in  large  cities. 
Among  the  Standard  Oil  beneficiaries  in  this  company  are 
H.  M.  Tilford  and  Chas.  Sweeney. 

BUSH  TERMINAL  COMPANY. 

Standard  Oil  money  created  the  Bush  Terminal  Stores 
in  South  Brooklyn,  Irving  Bush  having  inherited  several 
million  dollars  from  his  father,  who  sold  out  to  the  oil 
trust.  E.  T.  Bedford  is  director  in  the  Bush  Terminal 
Company,  which  is  capitalized  at  $12,000,000  and  claims 
assets  of  $18,884,261.  The  company  owns  a  chain  of  ware- 
houses and  operates  a  freight  line  connecting  the  ware- 
houses with  the  Bush  docks,  seven  of  them. 

The  Bush  Company  agreed  to  sell  its  railroad  and 
franchises  to  the  city  provided  the  city  also  bought  its 
docks  for  $10,000,000.  John  Purroy  Mitchel,  as  president 
of  the  Board  of  Aldermen,  agreed  to  purchase  the  railroad 
property  and  docks,  at  an  approximate  cost  of  $15,000,000, 
his  recommendation  being  rejected  by  the  Board  of  Esti- 
mate after  Mr.  Mitchel  became  mayor. 

Mr.  Bush  is  director  in  the  Estates  of  Long  Beach, 
controlled  by  former  State  Senator  William  H.  Reynolds, 
who  sold  the  city  Dreamland  Park,  at  Coney  Island.  The 
purchase  of  this  property  zvas  accepted  by  the  Board  of 
Estiinate,  during  the  administration  of  Mayor  Gaynor. 
The  city  zcill  pay  about  $1,000,000  for  the  property,  the 


88  STANDARD    OIL 

report  of  the  condemnation  commissioners  not  yet  being 
complete. 

BORDEN  CONDENSED  MILK  COMPANY. 

Edgar  L.  Marston,  of  Blair  &  Co.,  and  chairman  of  the 
Rockefeller  General  Education  Board,  is  director  in  Bor- 
den Condensed  Milk  Co.  and  the  Borden  Condensed  Milk 
Co.  of  Canada.  Mr.  Marston  is  also  director  in  other 
Rockefeller  properties,  including  the  Merchants  Fire  As- 
surance Corporation,  in  which  John  D.,  Jr.,  is  director, 
Mechanics  and  Metals  National  Bank,  in  which  Percy  A. 
Rockefeller,  H.  H.  Rogers  and  C.  M.  Pratt  are  directors. 
Title  Guarantee  and  Trust  Co.  and  several  of  the  Rocke- 
feller railroads. 

The  Borden  company  controls  the  price  of  milk  in  New 
York  City,  where  it  sells  2,000,000  gallons  daily.  The 
company  is  capitalized  at  $29,000,000  and  is  known  as 
the  "milk  trust."  The  price  of  milk  has  advanced  steadily 
in  New  York  City  during  the  past  ten  years  and  the  sale 
of  milk  from  cans  has  recently  been  prohibited.  The  Bor- 
den Company  sells  only  in  bottles. 

RIKER-HEGEMAN    CORPORATION. 

Standard  Oil  money  is  invested  in  the  Riker-Hegeman 
corporation,  which  owns  and  conducts  forty  drug  stores 
in  New  York  City  and  forty  outside  the  city  known  as 
the  Jaynes  stores.  John  H.  Flagler  is  president  of  the 
company  and  F.  H.  and  A.  B.  Pouch  are  directors.  W.  A. 
Barstow  is  also  a  director. 

The  United  Cigar  Stores  recently  acquired  control  of 
the  company  and  formed  a  combination  for  the  sale  of 
United  Cigar  Stores  product  in  the  drug  stores.  The 
capital  of  the  Riker-Hegeman  corporation  is  $15,000,000 
and  of  the  United  Cigar  Stores,  $35,000,000.  The  growth 
of  Riker-Hegeman  is  crowding  out  independent  druggists 
in  N.  Y.  City. 


OR    THE    PEOPLE  89 

Standard  Oil  money  is  invested  in  many  other  large 
corporations  in  New  York  City  and  in  the  railroads  run- 
ning out  of  the  city.  It  is  also  invested  in  casualty  and  in- 
surance companies  doing  business  in  and  out  of  the  city, 
in  telephone  and  telegraph  lines,  in  banks,  in  fire  extin- 
guishing companies,  in  docks  and  nmrchonses,  and  in  many 
concerns  that  supply  food  and  other  necessities  to  the 
people. 


90  STANDARD    OIL 


EVERYTHING  FOR  STANDARD,  NOTHING 

FOR  THE  PEOPLE. 

Everything  for  Standard,  was  the  motto  of  John  D. 
Rockefeller  in  the  early  stages  of  the  oil  trust  career.  This 
was  on  the  assumption  that  the  oil  business  belonged  to 
him  and  that  no  one  should  be  permitted  an  independent 
and  profitable  existence. 

First,  the  independent  refiners  in  Cleveland  were  com- 
pelled to  give  up  through  unjust  railroad  discrimination. 
Then  refiners  in  Pennsylvania  and  other  parts  of  the 
country  were  obliged  to  yield.  Rockefeller  bought  them 
up  at  his  own  price  or  took  them  into  the  oil  combination ; 
others  were  forced  out  of  business. 

In  order  to  escape  the  oppression  of  the  railroads,  in- 
dependent producers  and  refiners  constructed  pipe  lines 
from  the  oil  fields  to  seaboard.  One  after  the  other  of 
these  lines  were  forced  to  sell  out  because  they  were  un- 
able to  compete  with  the  reduced  rates  granted  to  Rocke- 
feller, his  agreement  with  the  railroads  being  that  no  form 
of  rivalry  should  be  permitted.  His  rebates  on  freight 
charges  during  the  period  of  pipe  line  competition  zvas 
sometimes  as  much  as  the  entire  freight  charge  itself. 

By  buying  up  the  pipe  lines,  Rockefeller  came  into  pos- 
session of  the  only  instruments  with  zvhich  he  was  able  to 
oppose  the  railroads;  and  he  obtained  them  at  his  own 
price.  STANDARD  OIL  TO-DAY  OWNS  100,000 
MILES  OF  PIPE  LINE  AND  A  TELEGRAPH  SYS- 
TEM THAT  RIVALS  THE  LEADING  PUBLIC  TEL- 
EGRAPH LINES  IN  AMERICA. 

Everything  for  Standard,  demanded  Rockefeller,  and 
the  men  in  the  oil  fields  who  invested  tens  of  millions  of 
dollars  in  hazardous  ventures  to  strike  oil,  were  forced  to 
succumb.  No  sooner  did  Rockefeller  control  the  refineries 
and  the  railroads,  than  he  began  to  apply  pressure  on  the 
oil  producers,  and  his  acquisition  of  the  pipe  lines  made 


OR    THE    PEOPLE  91 

him  master  of  the  products  in  the  field.  He  could  fix  his 
omn  price  at  the  well  and  regulate  the  output  just  as  he 
did  that  of  independent  refiners  before  he  bought  them  up. 
Independent  oil  men  zvere  zuiped  out  and  those  who  re- 
mained did  business  only  on  a  Rockefeller  scale.  They 
produced  oil  as  Rockefeller  z^-anted  it  and  Standard  Oil 
has  controlled  the  output  and  the  price  ever  since. 

Everything  for  Standard,  was  the  dream  of  Rockefel- 
ler, and  from  refineries,  pipe  lines,  railroads  and  oil  wells  it 
has  advanced  to  the  control  and  ownership  of  two  hundred 
by-products  of  oil  in  essential  use  by  the  people.  Standard 
Oil  fixes  the  price  of  these  commodities  not  only  in  Amer- 
ica but  elsewhere  throughout  the  world. 

Standard  Oil  is  to-day  a  combination  of  at  least  five 
hundred  separate  business  organizations,  each  producing 
or  selling  oil,  or  supplying  light,  heat,  power  and  trans- 
portation all  over  the  world.  At  the  rate  of  profit-taking 
during  the  past  forty  years,  its  income  forty  years  hence 
is  inconceivable.  Standard  Oil  distributed  in  dividends 
during  1913,  $107,795,377  in  cash;  $81,900,000  in  stock,  and 
$2,500,000  in  rights,  or  a  total  of  $192,195,377. 

Everything  for  Standard,  yearned  Rockefeller,  and  he 
has  indeed  fulfilled  his  yearning.  Scarcely  a  dollar  of 
Standard  Oil  money  goes  to  anyone  outside  the  oil  trust 
for  service  or  material,  and  not  a  Standard  Oil  product  is 
shipped  in  any  but  Standard  Oil  bottoms.  Standard  Oil 
makes  its  own  barrels  and  tin  cans;  builds  its  own  ships 
and  its  own  railroad  tank  cars.  It  manufactures  its  own 
pumps  and  pipe  lines,  and  on  this  principle  of  EXCLU- 
SIVE PROFITS  IX  BUSINESS,  STANDARD  OIL 
IS  EMBRACING  THE  ENTIRE  COMMERCIAL 
WORLD.  IT  IS  THE  LEADING  FACTOR 
THROUGH  ITS  BENEFICIARIES  AND  DIRECTORS 
IN  RAILROADS,  INDUSTRIAL  CORPORATIONS 
■AND  PUBLIC  UTILITIES  WHICH  ARE  APPLYING 
THE  SAME  PRESSURE  ON  THE  PEOPLE  AS  HAS 
BEEN  APPLIED  BY  STANDARD  OIL. 


92  STANDARD    OIL 


THE  BUSINESS   OF  AMERICA  IS  CON- 
TROLLED BY  STANDARD  OIL. 

The  business  of  the  nation  is  in  the  hands  of  Standard 
Oil.  The  report  of  the  Pujo  Investigating  Committee 
shows  that  the  principal  financing  of  the  country  is  done 
by  the  National  City  Bank;  Kuhn,  Loeb  &  Co.;  Lee,  Hig- 
ginson  &  Co.,  Kidder,  Peabody  &  Co.,  and  First  National 
Bank,  all  affiliated  with  Standard  Oil,  and  by  J.  P.  Morgan 
&  Co.,  which  has  been  associated  with  Standard  Oil  in 
recent  years  on  all  large  ventures. 

During  the  past  several  years  (since  1907)  the  bulk 
of  the  business  in  Wall  Street  has  been  done  with  Stand- 
ard Oil  money.  Standard  Oil  is  virtually  the  only  market 
factor,  and  the  fact  that  there  is  no  speculation  in  the 
Street,  proves  that  there  is  no  faction  strong  enough  or 
willing  to  cope  with  Standard  Oil.  John  D.  Rockefeller 
once  said  that  he  was  averse  to  stock  market  gambling. 
The  rivalry  between  Morgan  and  Standard  Oil  ceased  sev- 
eral years  before  Morgan's  death  in  1912.  Since  then 
Standard  Oil  interests  are  said  to  have  acquired  part  of 
the  securities  held  by  the  Morgan  faction  in  the  New 
Haven  Railroad. 

Prior  to  their  present  -financial  supremacy,  Standard 
Oil  factors  led  the  speculation  in  Wall  Street.  Standard 
Oil  millions  were  at  all  times  on  call  at  rates  iixed  by  their 
hankers,  and  the  principal  operations  in  the  Street  were 
conducted  by  brokers  for  Henry  H.  Rogers,  William 
Rockefeller,  Flagler  and  their  associates.  Thomas  W. 
Lawson,  Moore  and  Schley  and  Flower  &  Company  were 
leading  brokers  for  the  combination  and  their  operations 
were  heaviest.  Oliver  H.  Payne  was  special  partner  in 
Moore  &  Schley. 

At  the  height  of  the  Rogers-Rockefeller  speculation, 


OR    THE    PEOPLE  93 

the  value  of  a  seat  on  the  Stock  Exchange  was  $95,000. 
Two  million  shares  of  stock  were  traded  in  daily  and  the 
public  was  led  to  believe  that  great  general  prosperity 
prevailed.  Since  the  decline  in  the  stock  market  during 
the  past  several  years,  the  value  of  an  exchange  seat  has 
shrunk  to  half  its  former  price.  The  public  has  also  been 
compelled  to  realize  that  the  prosperity  of  Wall  Street  was 
not  for  general  participation,  but  only  for  the  few  i<ho 
controlled  the  market.  Thomas  IV.  Lawson  charged  that 
Rogers,  Rockefeller  and  Stilhnan  made  $40,000,000  out  of 
the  notation  of  only  one-half  of  Amalgamated  Copper. 

A  large  part  of  Standard  Oil  profits  are  nozv  invested 
in  national,  state  and  city  bonds,  and  so  far  as  the  stock 
market  is  concerned.  Standard  Oil's  interest  in  it  is  slight. 
Specuation  in  Wall  Street  is  virtually  over.  The  success 
of  the  recent  sale  of  state  and  city  bonds  shows  where 
Standard  Oil  money  is  being  lodged,  these  securities  being 
non-taxable  under  the  income  tax  law. 

There  is  no  need  for  further  prosperity  in  Wall  Street 
so  far  as  Standard  Oil  is  concerned.  It  ozvns  all  the  stock 
securities  it  needs  for  control  of  the  main  factors  in  busi- 
ness and  commerce  and  its  future  investments  z^ill  be  of  a 
different  nature.  Standard  Oil  stockholders  are  lending 
money  to  national  governments,  and  their  investments 
average  $3,000,000  a  iveek.  These  are  made  through 
Standard  Oil  bankers,  the  service  of  stock  brokers  being 
no  longer  required. 

A  large  part  of  Standard  Oil  millions  will  go  into 
government  bonds  in  the  event  of  tear  zvith  Mexico. 


94  STANDARD    OIL 


THE  ECONOMIC  DESTRUCTION  OF 

AMERICA  REPEATEDLY 

FORETOLD. 

The  hardship  in  America  to-day  is  the  logical  outcome 
of  the  industrial  aggression  of  the  past  fifty  years  led  by 
Rockefeller  and  Standard  Oil.  It  was  foretold  by  Henry 
Demarest  Lloyd  in  his  illuminating  book  ''Wealth  against 
Commonwealth,"  published  in  1894,  which  detailed  the 
greed  and  oppression  of  the  oil  trust.  The  facts  narrated 
in  five  hundred  pages  of  type,  were  gathered  from  the 
testimony  of  witnesses  and  from  other  official  records  of 
Congress  and  various  state  legislatures. 

Ten  years  later,  Ida  Tarbell,  in  a  painstaking  and  labo- 
rious work  telling  of  Standard  Oil  exactions  and  wrongs, 
pointed,  a  conclusion  similar  to  that  of  Lloyd,  unless  Stand- 
ard Oil's  greed  were  checked.  Miss  Tarbell,  like  Mr. 
Lloyd,  studied  the  oil  trust  with  prophetic  vision. 

The  following  year,  in  1905,  Thomas  W.  Lawson  awoke 
the  country  with  his  thrilling  account  of  "Frenzied  Fi- 
nance— the  Crime  of  Amalgamated,"  where  he  told  of  the 
financial  rapacity  of  Henry  H.  Rogers  and  his  associates. 
Lawson  charged  that  they  made  $40,000,000  for  them- 
selves on  a  flotation  of  $75,000,000  of  capital  stock  of  the 
Amalgamated  Copper  Co.,  the  total  capital  being  $155,- 
000,000.  Rogers  son  and  son-in-law,  U.  H.  Bronghton, 
are  directing  factors  in  the  company  to-day. 

Lawson  reiterated  in  nearly  every  chapter  of  his  book 
that  the  day  wotdd  come  when  the  people  woidd  rise 
against  the  power  of  Standard  Oil. 

In  1908,  Theodore  W.  Lincoln,  writing  in  a  Boston 
magazine,  declared  that  the  fight  of  President  Roosevelt 
on  Standard  Oil  v/as  a  fight  to  save  the  nation.  Mr.  Lin- 
coln's articles  were  published  after  the  fine  of  $29,000,000 


OR    THE    PEOPLE  95 

against  the  Standard  Oil  Company  for  rebating,  imposed 
by  Judge  Landis,  was  reversed  by  the  highest  court. 

Standard  Oil  has  been  investigated  by  a  dozen  state 
legislatures  and  by  Congress.  These  investigations  have 
cost  millions  of  dollars.  Twice  the  oil  trust  was  dissolved 
by  court  decree  as  a  monopoly  in  restraint  of  trade  and 
its  subsidiaries  convicted  and  punished  in  various  states, 
as  instruments  of  monopoly.  Standard  Oil  has  been  fined 
repeatedly  for  freight  rebating,  though  its  control  of 
courts  has  never  been  questioned. 

Many  of  those  who  told  their  tales  of  oppression  on 
the  witness  stand  before  Congress,  in  the  courts  and  else- 
where, have  uttered  predictions  of  national  disaster  be- 
cause of  oil  trust  misconduct.  One  of  these  witnesses,  in 
1899,  in  testifying  before  the  Industrial  Commission  of 
Congress,  deplored  the  fact  that  he  would  not  live  long 
enough  to  shoulder  arms  in  the  fight  for  Industrial  Free- 
dom. 

There  have  been  many  uprisings  in  the  oil  fields  against 
Standard  Oil,  and  in  Oklahoma  and  Kansas,  the  states 
erected  their  own  refineries  to  enable  independent  oil  pro- 
ducers to  escape  the  Standard.  In  the  early  days  of  the 
oil  business  in  Pennsylvania  vigilance  committees  were 
organized  to  guard  the  interests  of  the  oil  producers 
against  Standard,  and  the  legislature  of  the  state  was  com- 
pelled to  act  repeatedly  on  complaints  against  the  oil  trust. 
Henry  H.  Rogers  and  John  D.  Archbold,  afterward  lead- 
ing Standard  Oil  factors,  were  Rockefeller's  chief  oppo- 
nents in  the  early  seventies. 

In  1872,  the  oil  producers  in  Pennsylvania  were  terri- 
fied when  the  rates  of  shipment  were  doubled  by  the  rail- 
roads. It  was  soon  discovered  that  this  step  followed  a 
contract  between  the  railroads  and  the  South  Improve- 
ment Company,  through  which  Rockefeller  and  his  asso- 
ciates aimed  to  control  the  output  of  all  refineries  and  oil 
wells.  The  legislature  was  compelled  to  investigate  the 
contract,  which  was  cancelled  after  three  months.     The 


96  STANDARD    OIL 

effect  desired,  however,  was  accomplished.  Refiners  and 
oil  producers  were  frightened  out  of  their  holdings  and 
sold  to  Rockefeller, 

Rockefeller  and  his  associates  soon  controlled  90  per- 
cent of  the  output  of  the  oil  refineries  in  this  country, 
where  a  few  years  before  Rockefeller  only  contributed 
four  percent  of  the  total  output. 

Standard  Oil  acquired  control  of  the  output  at  the  wells, 
through  ownership  of  the  pipe  lines  from  the  wells  to  the 
reilners  and  from  the  refiners  to  seaboard,  and  it  -fixed  the 
price  of  oil  to  the  producer  as  well  as  to  the  consumer,  as 
it  has  continued  to  do  ever  since.  There  are  two  hundred 
by-products  of  oil  sold  in  this  country  and  Standard  Oil 
controls  the  price  of  all  of  them,  the  total  annual  business 
being  about  TWO  BILLION  DOLLARS. 

Standard  Oil  exactions  have  been  copied  by  every  other 
business  monopoly.  The  railroads  which  are  waterlogged 
with  stocks  and  bonds  that  are  held  by  thousands  of  in- 
vestors, are  squeezing  the  last  dollar  of  profit  out  of  trans- 
portation to  pay  interest  and  dividends  on  this  pyramid  of 
■  inflated  securities.  The  railroads  are  now  demanding  per- 
mission of  the  government  to  increase  their  rates  an  aver- 
age of  five  percent  so  that  dividends  may  be  earned  on 
"new  capital,"  leaving  all  the  old  capital  on  a  profit-pro- 
ducing basis.  THE  TOTAL  CAPITALIZATION  OF 
ALL  THE  RAILROADS  IS  $19,000,000,000  OF 
WHICH  HALF  IS  ESTIMATED  TO  BE  WATER. 

The  people  are  also  being  squeezed  by  all  industrial 
corporations  that  control  the  price  of  the  commodities. 
Beef,  tobacco,  coal,  sugar,  and  all  other  products  of  neces- 
sity and  use  in  this  country,  are  sold  at  twice  and  three 
times  a  normal  profit,  the  cost  of  living  having  more  than 
doubled  as  a  result  in  twenty  years.  The  capitalization  of 
these  industrial  corporations  is  even  greater  relatively  than 
that  of  the  railroads. 

The  people  have  been  defrauded  through  stock  manip- 
rbtion  during  the  past  fifty  years,  and  government  funds 


OR    THE    PEOPLE  97 

have  been  mishandled  and  dissipated  by  manipulators  who 
pretended  to  develop  railroad  property.  The  nation  has 
granted  millions  of  acres  of  timber  and  mineral  land  to 
railroad  developers  who  in  turn  wrecked  the  roads  through 
fraud  in  construction. 

In  the  case  of  the  Union  Pacific  Railroad,  the  nation 
lost  $44,000,000  in  the  collapse  of  the  Credit  Mobilier 
Company,  which  pretended  to  construct  the  road  with 
government  money,  and  which  charged  $94,000,000  for 
work  that  cost  $50,000,000.  Many  small  private  fortunes 
were  swept  away  in  the  collapse. 


98  STANDARD    OIL 


STANDARD  OIL  CONTROLS  THE  BASIS  OF 
MODERN  CIVILIZATION. 

Oil  and  its  by-products  form  the  basis  of  modern  civ- 
ilization. The  lamp  that  lights  the  homestead  has  pro- 
vided education  to  the  present  and  previous  generations. 
Knowledge  was  scarcely  possible  under  the  torch  or  by 
primitive  candle  light.  Learning  has  become  general  since 
oil  was  first  used. 

Gasoline,  naptha  and  natural  fuel  oil  and  gas  supply  a 
large  part  of  the  motive  power  of  commerce.  Most  of  the 
vehicles  of  transportation  to-day  are  propelled  either  by 
oil  or  gasoline  and  the  prospects  are  that  steam  and  elec- 
tricity will  be  supplanted  by  fuel  oil. 

Fuel  oil  will  soon  become  the  motive  power  of  the 
American  navy  and  the  United  States  is  nozu  seeking  to 
acquire  its  own  oil  lands  in  Oklahoma  and  to  btiild  its  own 
pipe  line  to  the  Gulf  of  Mexico.  Great  Britain  relies  on 
the  Cowdray  syndicate  to  provide  fuel  for  British  ships. 

Turpentine,  vaseline,  lubricating  oil,  paraffin,  axle 
grease  and  petroleum  are  all  important  oil  products,  and 
there  are  two  hundred  others  in  general  use  by  the  people. 
The  importance  of  oil  as  a  factor  in  civilization  cannot, 
therefore,  be  exaggerated,  and  its  ownership  by  private 
individuals  becomes  a  momentous  question.  Nature  has 
provided  oil  in  liberal  quantities  to  all  nations,  and  up  to 
the  present  time  the  profits  have  been  acquired  only  by  the 
few. 

Standard  Oil  is  the  dominant  factor  in  the  oil  produc- 
tion of  the  world.  It  supplies  more  than  65  percent  of  the 
entire  output  of  approximately  350,000,000  barrels  of  42 
gallons  each,  and  its  possession  of  oil  lands  grows  steadily. 
It  acquires  oil  property  usually  at  its  own  price,  especially 
where  it  is  held  by  small  owners. 


OR    THE    PEOPLE  99 

The  monopoly  in  oil  will  undoubtedly  belong  to  the  gov- 
ernment before  many  years.  Germany  is  leading  in  that 
direction,  the  United  States  is  follozijing  and  Mexico,  under 
President  Huerta,  aims  to  confiscate  native  oil  property. 
Standard  Oil's  holdings  in  Mexico  are  tremendous. 

Japan  is  jealous  of  Standard  Oil's  invasion  of  China, 
where  the  Japanese  sought  to  acquire  oil  concessions,  and 
Standard  Oil's  success  in  this  direction  has  irritated  Japan. 

IV ill  the  United  States  enter  Mexico  so  that  American 
oil  interests  may  expand f 


100  STANDARD    OIL 


STANDARD    OIL    CORRUPTED    POLITICS 

IN  AMERICA. 

Corporate  influence  has  destroyed  political  integrity  in 
the  United  States  and  Standard  Oil  has  been  the  chief 
offender  in  this  direction.  The  records  of  Congress  and  of 
various  state  legislatures  show  the  effect  of  such  corrup- 
tion. 

The  letter  files  of  Standard  Oil,  published  by  W.  R. 
Hearst,  show  how  deeply  that  corporation  has  sinned.  It 
smothered  the  morals  of  Congress  and  of  the  United 
States  Senate.  It  even  owned  the  Presidents  through  their 
political  campaign  managers,  when  Standard  Oil  money 
was  used  to  elect  them. 

The  politics  of  states  and  cities  were  corrupted  by  cor- 
porations in  which  Standard  Oil  money  is  invested  and  in 
which  Standard  Oil  beneficiaries  are  factors.  In  a  city 
like  New  York,  for  example,  the  money  of  public  service 
corporations  usually  defeated  the  will  of  the  people  and 
resulted  in  great  financial  damage  to  the  profit  of  the  cor- 
rupting corporations. 

In  order  to  achieve  such  results  it  was  necessary  for 
corporations  to  bribe  leaders  of  political  parties  which  up 
to  that  time  rendered  useful  public  service.  Standard  Oil, 
throuh  the  Rockefellers,  is  noiv  assuming  a  role  of  virtue 
in  the  political  management  of  New  York,  where  the 
greatest  share  of  Rockefeller  fortune  is  invested,  and  where 
one-fifth  of  the  zuealth  of  the  nation  is  centered. 

The  City  of  New  York  pays  $5,000,000  a  year  to  the 
Consolidated  Gas  Co.  for  the  illumination  of  the  city's 
streets  and  for  light  and  power  in  some  public  buildings. 
John  D.  Rockefeller  is  the  largest  individual  stockholder 
in  this  company,  which  obtains  $60,000,000  each  year  from 
the  people  of  the  City  of  New  York  for  service. 


OR    THE    PEOPLE  101 

Corporate  influence  has  created  political  hypocrisy  in 
America,  the  pretense  of  virtue  being  assumed  by  men  who 
pose  as  public  benefactors.  They  form  themselves  into 
committees,  nominate  candidates  for  public  ofiice  and  as- 
sume a  patriotic  pose.  The  funds  for  such  movements  are 
usually  supplied  by  corporations  and  by  individuals  con- 
nected with  Standard  Oil. 


102  STANDARD    OIL 


IS  MODERN  CIVILIZATION  RIGHT? 

Was  it  intended  that  the  people  of  a  nation  should  be 
poor  and  only  a  few  rich?  Did  nature  decree  that  greed 
and  cunning  should  rule  and  that  pauperism  should 
abound  ? 

A  nation  of  slaves  can  accomplish  nothing  for  man- 
kind. Freedom  only  can  secure  progress.  In  the  United 
States,  poverty  is  general.  Private  and  public  charity  are 
taxed  to  the  limit  to  succor  those  who  apply  for  aid,  and 
the  City  of  New  York  is  overrun  with  persons  who  have 
no  means  of  subsistence. 

Poverty  produces  vice  and  crime,  and  family  desertion 
is  common.  Women  and  children  work  in  factories  to 
provide  sufficient  food  to  live,  and  fraud  in  business  is 
general. 

Was  it  ordained  that  such  conditions  should  endure? 
In  a  land  of  plenty,  was  it  meant  that  people  should  starve? 


OR   THE    PEOPLE  103 


HAS  CIVILIZATION  REACHED  A  CLIMAX? 

At  no  period  in  history  has  science  and  invention 
reached  so  high  a  stage.  Science  has  provided  the  means 
of  artificial  triumph  over  nature  while  invention  has  pro- 
duced almost  the  capture  of  nature  itself. 

The  flying  machine  which  punctures  the  cloud  and 
carries  intrepid  man  into  the  realms  of  air,  is  the  widest 
achievement  in  this  conquest.  The  telephone,  telegraph, 
moving  picture  machine  and  phonograph  are  other  stages 
that  mark  the  progress  of  mankind.  The  steam  engine 
and  the  electric  light  are  details  in  the  advancement  of 
science  and  civilization. 

How  much  further  can  invention  go? 

What  more  can  science  produce f 

Can  it  create  life  or  restore  the  dead? 

These  triumphs  alone  azvait  the  capture  of  all  nature 
and  of  all  religion. 

Can  nature  be  completely  overcome? 


104  STANDARD    OIL 


THE  DECLINE  OF  AMERICA  DUE  TO  THE 
GREED  OF  CORPORATE  MONOPOLIES. 

In  all  ages  where  nations  decay,  their  decline  is  due  to 
the  greed  of  the  few  who  control  great  wealth.  The  greatest 
concentration  of  wealth  and  property  exists  in  the  United 
States  to-day.  Less  than  one-half  of  one  percent  of  the 
people  are  in  receipt  of  $3,000  a  year  or  more — only  a 
living  income  in  New  York  City.  The  bulk  of  the  nation's 
aggregate  wealth  of  One  Hundred  and  Thirty  Billion  Dol- 
lars ($130,000,000,000)  is  owned  by  less  than  five  hun- 
dred persons.  One  hundred  families  own  half  the  wealth 
in  the  country. 

John  D.  Rockefeller's  income  is  estimated  at  $70,000,- 
000  a  year  and  those  of  his  oil  trust  associates  are  propor- 
tionately as  large.  Their  incomes  increase  each  year  with 
abnormal  trust  promts.  As  already  stated,  less  than  twenty 
persons  own  more  than  half  the  stock  of  the  various 
Standard  Oil  companies  and  derive  more  than  half  the 
dividends.  John  D.  Rockefeller's  income  from  Standard 
Oil  alone  is  $40,000,000  a  year. 

The  wealth  of  the  United  States  has  been  concentrated 
since  its  beginning,  though  concentration  was  never  so 
close  as  now.  Prior  to  the  American  Revolution,  the 
bulk  of  the  land  was  held  by  those  who  obtained  large 
grants  from  British  rulers.  Following  the  revolution, 
large  fortunes  were  made  out  of  shipping  and  banking,  out 
of  canal  grants  and  appropriations,  out  of  public  franchises 
for  ferries,  railroads,  and  public  utilities,  and  by  defraud- 
ing the  Indians;  and  during  the  period  before  the  Civil 
War,  out  of  black  slavery. 

The  industrial  fortunes  created  during  the  past  fifty 
years  have  drained  the  resources  of  the  nation  and  the 
people.    The  ring  of  monopoly  and  extortion  is  complete. 


OR   THE    PEOPLE  105 

and  zcater  rights,  forest  lands,  mines,  public  utilities,  rail- 
roads and  all  necessary  or  useful  commodities  are  o'.ned 
and  controlled  by  those  who  levy  tribute  on  the  people. 
How  long  can  such  oppression  continue  zvithout  public  re- 
taliation? 


106  STANDARD    OIL 


PRIVATE  WEALTH  MUST  BE  REDISTRIBU- 
TED IN  ORDER  THAT  CIVILIZATION 
MAY  BE  PRESERVED. 

There  is  but  one  way  by  which  this  extraordinary  and 
fatal  concentration  of  wealth  can  be  remedied.  The  nation 
must  limit  private  fortunes  so  that  weahh  may  be  more 
equitably  distributed.  The  bulk  of  the  greatest  fortunes 
has  been  obtained  through  other  than  moral  or  legitimate 
means. 

The  fortune  of  Rockefeller  is  based  on  lawlessness  and 
oppression  and  the  fortunes  of  Harriman,  Hill,  Gould, 
Vanderbilt  and  Huntington,  are  based  on  government 
grants,  public  franchises  and  deceit  in  railroad  manipula- 
tion. The  fortunes  of  Duke  and  Armour,  Ryan  and  Brady, 
are  derived  from  the  exactions  of  private  monopoly  in  the 
necessities  of  life  or  from  manipulation  of  public  fran- 
chises. 

There  is  scarcely  a  fortune  in  America,  in  excess  of 
Ten  Million  Dollars  that  has  been  honestly  accumulated  in 
a  life  time  and  no  man  is  justified  in  accumulating  more 
than  that  sum  for  the  good  of  society.  No  man's  indi- 
vidual wealth  should  be  great  enough  to  interfere  with  the 
orderly  course  of  government. 

If  the  government  applies  a  uniform  limit  of  $10,000,- 
000  to  every  man's  fortune,  the  material  reward  of  a  life 
time  is  generous.  Five  percent  on  Ten  million  dollars  is 
$500,000,  and  no  man  needs  more  than  that  sum  for  the 
annual  upkeep  of  his  family.  John  D.  Rockefeller,  with 
an  income  of  $70,000,000  a  year,  spends  less  than  $500,- 
000  annually  for  his  family. 


OR    THE    PEOPLE  107 

The  Anarchy  of  Greed  during  the  past  fifty  years  has 
debauched  the  nation,  and  no  prosperity  can  he  permanent 
until  private  zvealth  has  been  more  evenly  divided. 

The  nation,  not  private  individuals,  must  be  the  chief 
beneficiary  of  all  trust  corporations  before  freedom  and 
prosperity  can  again  be  restored. 


108  STANDARD    OIL 


RESTRICTION  OF  PRIVATE  FORTUNES 
ONLY  CAN  AVERT  CONFISCATION. 

The  socialist  program  contemplates  collective  owner- 
ship of  all  property.  Such  a  step  means  confiscation  of 
ALL  private  possessions,  in  favor  of  the  government. 
There  is  but  one  course  that  can  avert  such  a  step  which 
can  be  accomplished  only  with  disaster,  and  that  is,  the 
limitation  of  private  fortunes. 

The  appraisement  of  railroad  property  now  under  way 
should  show  what  has  become  of  several  hundred  million 
dollars  granted  direct  by  the  nation  and  various  states  for 
the  construction  of  roadbeds  and  it  should  also  show  how 
much  of  this  property  still  belongs  to  the  people. 

To  purchase  railroad  property  by  issuance  of  govern- 
ment bonds  is  as  dangerous  to  the  nation  as  is  the  violent 
seizure  of  all  railroad  property.  Practically  all  railroad 
improvements  have  been  made  out  of  earnings,  not  other- 
wise diverted.  To  pay  the  appraised  value  for  all  rail- 
ways would  impose  an  intolerable  burden  on  the  people. 

The  man  of  moderate  wealth  who  prides  himself  on  his 
success  in  business,  measures  his  success  by  the  amount 
of  his  fortune  at  the  end  of  his  career.  The  man  of  ex- 
traordinary wealth  is  led  to  believe  that  his  success  has 
been  gigantic ;  that  he  is  one  of  the  leaders  in  the  game  of 
"survival  of  the  fittest." 

There  has  been  no  such  game  so  far  as  this  man  of 
extraordinary  riches  is  concerned.  His  riches  are  not  the 
fruits  of  his  efforts  to  survive  in  honest  business  com- 
petition. There  has  been  no  such  competition  and  the 
man  of  excess  fortune  has  obtained  it  by  overriding  the 
law  and  by  subduing  his  moral  conscience. 

Laws  are  enacted  and  governments  created  for  the 
safeguard  of  human  institutions.     The  society  of  the  hu- 


OR    THE    PEOPLE  109 

man  race  can  endure  only  through  justice.  Oppression 
creates  poverty  and  mental  and  moral  debasement  and 
leads  to  the  final  collapse  of  society. 


The  Single  Tax  program  is  not  a  cure  for  present 
economic  ills.  When  Henry  George  wrote  his  reform 
doctrine  he  saw  the  menace  of  the  great  landed  fortunes. 
No  fortune  at  that  time  (1879)  exceeded  $50,000,000.  The 
largest  fortune  to-day  is  twenty  times  that  sum,  and  at 
least  fifty  fortunes  exceed  it. 

George  realized  the  gross  inequalities  of  the  Feudal 
system  and  of  the  Latifundia  of  Italy  where  the  many 
were  the  slaves  of  the  great  landed  proprietors,  but  he 
failed  to  conceive  the  crushing  eflfect  of  exploitation  in 
the  succeeding  generation. 

A  tax  such  as  proposed  by  Henry  George  zvoiild  not 
have  prevented  Rockefeller  from  destroying  his  rivals  in 
the  oil  business,  nor  would  it  hinder  a  Harriman,  Hunting- 
ton, Gould  or  Vanderbilt  from  manipulating  a  railroad  or 
uatering  its  capital  to  the  tune  of  millions  of  dollars.  Nor 
could  it  prevent  the  stock  exploitations  of  Ryan,  Brady, 
Whitney  et  al,  or  the  monopolistic  extortions  of  the  beef 
trust,  tobacco  trust  and  of  every  other  corporate  monopoly. 

No  such  tax  proposed  by  Henry  George  could  prevent 
the  hardship  in  America  to-day,  the  only  cure  residing  in 
a  government  conducted  on  behalf  of  the  people,  where 
private  wealth  is  limited  and  where  the  resources  of  the 
country  are  more  evenly  distributed  among  all  the  people 
and  not  hoarded  by  the  few. 


The  anarchistic  program  is  one  of  revolutionary  intent. 
It  aims  to  destroy  all  the  instruments  that  perpetuate  so- 
ciety as  at  present  constituted.  It  believes  in  rampant 
freedom  to  do  and  say  what  it  pleases.  It  aims  to  tear 
down  the  barriers  that  maintain  present  civilization.     It 


no  STANDARD    OIL 

believes  in  the  fullest  rights  to  each  individual  involv- 
ing his  physical  and  moral  existence.  It  believes  in  a  so- 
ciety where  the  individual  can  take  what  he  wants  without 
the  annoyance  of  paying  for  it. 


The  I.  W.  W.,  or  Industrial  Workers  of  the  World, 
wants  collectively  in  the  industrial  field  what  the  socialist 
seeks  by  political  action.  The  I.  W.  W.  wants  the  work- 
man to  profit  to  the  fullest  extent  of  his  labor — that  in- 
dustry and  commerce  should  he  ozvned  collectively  by  the 
producer.  His  program  is  pro-industrial  as  distinguished 
from  that  of  the  socialist,  which  is  pro-political — but  they 
both  aim  to  tear  down  the  present  control  of  capital.  The 
I.  W.  W.  program  is  the  more  radical;  it  aims  to  ac- 
complish its  end  by  direct  and  violent  action. 


The  socialistic,  anarchistic  or  I.  W.  W.  program  is 
equally  menacing  to  those  of  moderate  wealth,  because  no 
distinction  is  made  in  the  amount  a  man  possesses.  They 
all  contemplate  complete  confiscation  for  the  benefit  of  the 
masses. 

There  is  but  one  course  that  can  avert  such  final  confis- 
cation, and  that  is  by  a  limitation  of  private  wealth  in 
excess  of  a  certain  sum,  so  that  the  excess  goes  back  to 
the  people  through  the  nation. 


OR    THE    PEOPLE  111 


SUPPOSE  ROCKEFELLER'S  FORTUNE 
WERE  LIMITED  TO  TEN  MIL- 
LION   DOLLARS? 

Suppose  the  wealth  of  John  D.  Rockefeller  were 
limited  by  constitutional  enactment  to  $10,000,000,  what 
would  happen?  Mr.  Rockefeller  would  be  told  that  he 
could  take  his  $10,000,000  in  any  form  of  security  that  he 
possessed;  he  could  take  it  all  or  part  in  Standard  Oil 
stocks;  he  could  take  the  $10,000,000  in  the  securities  of 
as  many  railroads  as  he  was  interested  in;  or  he  could 
take  it  all  in  government  bonds  if  he  owned  that  much. 

MR.  ROCKEFELLER  WOULD  THEN  BE 
OBLIGED  TO  TRANSFER  HIS  SECURITIES  IN 
EVERY  OTHER  CORPORATION  AND  HIS  PROP- 
ERTY HOLDINGS  OF  EVERY  OTHER  KIND  IN 
EXCESS  OF  $10,000,000,  TO  THE  NATION.  THE 
GOVERNMENT  WOULD  BY  THIS  ONE  ACT,  BE- 
COME THE  LARGEST  STOCKHOLDER  IN  MORE 
THAN  A  SCORE  OF  INDUSTRIAL  CORPORA- 
TIONS AND  RAILROADS  THROUGHOUT  THE 
COUNTRY.  The  government  does  NOT  need  complete 
ownership  of  these  corporations  in  order  to  regulate  their 
affairs. 

Mr.  Rockefeller  owns  one-quarter  of  the  stock  of 
Standard  Oil,  the  market  value  of  all  the  stock  being 
$1,300,000,000.  Practically  all  of  this  sum  has  been  created 
out  of  earnings,  besides  which  a  total  of  $800,000,000  has 
been  distributed  in  cash  dividends. 

The  transfer  of  the  bulk  of  Mr.  Rockefeller's  Standard 
Oil  holdings  to  the  government  makes  further  excess 
profits  unnecessary.  The  government  needs  no  surplus 
earnings  for  its  individual  profit  out  of  the  company.  // 
distributes  this  surplus  to  the  people  by  a  reduction  in  the 


112  STANDARD    OIL 

price  of  its  products,  which  affects  the  entire  nation  at 
once.  Every  purchaser  of  oil,  petroleum,  gasolene,  and  of 
the  numerous  byproducts  of  the  company,  benefits  immedi- 
ately by  the  change.  Greed  is  no  longer  the  dominant  aim 
of  the  corporation  management. 

The  entire  nation  profits  by  the  transfer  of  the  bulk  of 
Mr.  Rockefeller's  fortune  to  the  government  and  the  same 
effect  is  felt  through  the  transfer  of  every  other  excess 
fortune.  THE  COST  OF  LIVING  IS  REDUCED  AT 
ONCE. 

Before  the  process  of  restoration  is  complete,  the  gov- 
ernment becomes  the  principal  factor  in  practically  every 
railroad  and  industrial  corporation  of  size  in  the  United 
States,  and  through  its  aim  to  benefit  the  people,  the  price 
of  commodities  and  transportation  is  reduced.  There  is  no 
need  for  further  excess  profits  by  any  of  these  corpora- 
tions, nor  is  there  need  to  continue  the  inflation  of  se- 
curities in  order  to  conceal  actual  earnings.  Industrial 
exploitation  is  at  an  end. 


OR    THE    PEOPLE  113 


EXCESS    PRIVATE    FORTUNES    COULD    BE 

USED  TO  PAY  OFF  CITY,  STATE 

AND  NATIONAL  DEBTS. 

If  the  government  limits  private  fortunes  to  $10,000,- 
000,  it  can  do  so  with  the  understanding  that  part  of  the 
surplus  which  it  receives  will  be  used  to  pay  off  or  reduce 
the  bonded  debts  of  states  and  cities  and  of  the  nation  as 
well,  the  excess  fortunes  being  divided  between  the  nation 
and  the  state  and  city  in  which  the  multi-millionaire  lives 
or  where  the  excess  property  is  located. 

The  balance  can  be  used  for  administrative  purposes 
by  the  national  government  until  the  annual  income  from 
the  various  corporations  in  which  it  has  become  interested, 
is  alone  sufficient.  The  chances  are  that  the  government 
will  need  no  revenue  from  any  other  source  than  from  the 
corporations,  for  administrative  purposes.  It  could  then 
dispense  with  the  tariff  duty  (except  on  articles  of  luxury) 
and  it  could  abolish  the  income  tax. 

If  a  beginning  in  this  direction  is  made  the  result  can 
be  easily  forseen.  If  the  government  came  into  possession 
of  all  fortunes  in  excess  of  $10,000,000,  it  would  at  once 
acquire  stocks,  bonds  and  real  estate  to  the  value  of  at 
least  TEN  BILLION  DOLLARS.  There  would  be  a 
shrinkage  in  the  market  value  of  some  of  these  securities 
if  it  were  understood  that  the  cost  of  commodities  would 
be  reduced  to  normal,  but  the  government  zvould  have  left 
an  intrinsic  value  of  at  LEAST  four  or  five  billion  dollars. 

The  nation's  debt  is  about  one  billion  dollars.  The 
combined  debt  of  all  the  cities  in  the  United  States  is 
about  $2,500,000,000.  The  aggregate  debts  of  all  the  states 
is  not  one-tenth  of  this  sum.  The  intrinsic  value  of  the 
securities  remaining  in  the  possession  of  the  government 
could  easily  obliterate  all  these  public  obligations.     The 


114  "  STANDARD    OIL 

cities,  states  and  nation  would  then  be  in  a  position  to 
start  all  over  again,  the  expense  of  the  national  govern- 
ment being  defrayed  as  already  proposed,  out  of  annual 
corporate  earnings. 

Each  state  could  advance  money  ziithoiit  interest  to 
develop  farming  and  agriculture  near  large  cities,  or  new 
cities  could  he  created  to  drazv  off  part  of  the  population 
of  the  largest  cities. 

Through  the  reduction  or  elimination  of  the  city  debts, 
the  value  of  city  real  estate  would  be  restored  because  of 
reduced  taxation.  In  New  York  City,  for  instance,  in- 
terest on  the  public  debt  alone  constitutes  one  quarter  of 
the  entire  city  budget,  or  about  forty  million  dollars,  the 
annual  budget  raised  by  taxation  being  $150,000,000.  The 
total  budget  is  $193,000,000,  of  which  about  $43,000,000  is 
derived  from  income  on  public  property.  If  the  public 
debt  were  abolished,  the  tax  rate  would  be  reduced  one- 
quarter  and  real  estate  which  has  been  a  dead  weight  for 
several  years,  would  again  become  a  live  asset. 

The  fact  that  the  national  government  was  the  princi- 
pal stockholder  in  most  large  corporations  would  add  sta- 
bility and  safety  to  business,  and  even  those  whose  profits 
zvere  reduced  to  normal  through  decreased  earnings  zcould 
be  satisfied.  There  would  be  no  threats  of  labor  trouble 
to  disturb  business,  nor  would  there  be  efforts  at  criminal 
prosecution  against  those  in  control  of  the  affairs  of  cor- 
porations. The  machinery  of  government  would  be  greatly 
simplified. 


OR    THE    PEOPLE  115 


GOVERNMENT  CONTROL  ONLY  CAN  PRE- 
VENT EXACTION  BY   PRIVATE 
MONOPOLY. 

The  management  of  the  various  corporations  would  in 
no  wise  be  disturbed  because  of  the  government  entry  into 
business,  though  the  policy  of  the  management  would  be 
in  the  interest  of  the  stockholders  and  the  public.  There 
would  be  no  exaction  by  private  monopoly,  nor  would 
there  be  mismanagement  of  corporations  in  the  interest  of 
a  few  leading  stockholders. 

There  could  be  no  objection  then  to  interlocking  direc- 
torates, nor  could  there  be  reasonable  complaint  against 
government  control  of  the  sources  of  credit  or  of  banking. 
There  could  be  no  manipulation  of  the  securities  of  large 
corporations  for  the  benefit  of  a  few  "insiders,"  because 
the  details  of  the  corporations'  aifairs  zvould  be  publicly 
known.  There  could  be  no  stock  "melons"  saved  up  for 
exploitation  by  the  fezv. 

Under  government  control  of  virtually  every  large  cor- 
poration, private  monopoly  would  be  impossible  and  no 
private  fortune  in  excess  of  $10,000,000  could  be  accumu- 
lated in  a  lifetime.  Every  inhabitant  of  the  nation  would 
benefit  alike  and  there  would  be  no  further  occasion  or 
need  for  such  direct  benefactions  as  that  of  Henry  Ford, 
whose  total  force  of  employes  is  less  than  one  one- 
thousandth  part  of  all  the  wage  earning  employes  in  the 
United  States. 

NO  INDIVIDUAL  OR  GROUP  OF  INDIVIDUALS 
WOULD  BE  POWERFUL  ENOUGH  TO  CONTROL 
THE  GOVERNMENT,  AND  CORRUPTION  IN  BUSI- 
NESS AS  WELL  AS  IN  POLITICS  WOULD  DIS- 
APPEAR. 


116  STANDARD    OIL 


HOW  STANDARD  OIL  HAS  GROWN  WITH 
EXTRAORDINARY  PROFITS. 

The  market  value  of  Standard  Oil  securities  is  to-day 
$1,300,000,000,  or  1,300  times  the  capital  of  the  original 
Standard  Oil  Company  in  1870.  The  capital  then  was 
$1,000,000.  Fully  $800,000,000  have  been  distributed  in 
cash  dividends  by  Standard  Oil  since  that  time,  Rocke- 
feller's share  alone  exceeding  $200,000,000. 

Fully  $200,000,000  has  been  added  to  the  capitalization 
of  the  various  Standard  Oil  Companies  out  of  earnings,  in 
addition  to  cash  dividends. 

Following  the  dissolution  decree  of  the  U.  S.  Supreme 
Court  in  1912,  Standard  Oil  distributed  greater  wealth 
than  ever  among  its  stockholders.  In  1913  its  dividends 
were:  Cash,  $107,795,377;  stock,  $81,900,000,  and  rights, 
$2,500,000 — a  total  of  $192,195,377. 

Following  are  the  details  of  the  growth  and  profits  of 
the  various  Standard  Oil  companies: 

ANGLO-AMERICAN  OIL. 

Capital  stock,  £2,000,000.    Par,  £1. 

Dividends,  1903,  50%;  1906,  15%;  1912,  20%;  1913,  25%. 

Assets,  $16,209,165;  surplus,  $8,139,020. 

Book  value  of  stock,  $26.72  per  share. 

ATLANTIC  REFINING  CO. 

Capital  stock,  $5,000,000.     Par  $100. 
Dividends,  1903,  170%;  1906,  45%. 
Assets,  $28,556,715;  surplus,  $18,188,135. 
Book  value  of  stock,  $468  per  share. 

BORNE-SCRYMSER  CO. 
Capital  stock,  $200,000.    Par  $100. 


OR    THE    PEOPLE  117 

Dividends,  1906,  25%;  1912,  20%;  1912,  ao%. 

Assets,  1906,  $576,092. 

Market  value  of  stock,  $305  per  gliarr 

BUCKEYE  PIPE  LINE  CO. 

Capital  stock,  $10,000,000.     Par  $50. 

Dividends,  1903,  15%;  1906,  50%;  1912,  40%;  1913,  407<p. 

Assets,  $21,833,455;  surplus,  $9775.303- 

Book  value  of  stock,  $108  per  share. 

CHESEBROUGH  MANUFACTURING  CO. 

Capital  stock,  $500,000.     Par  $100. 

Dividends,  from  1900  to  1912,  from  18  to  60%  annually; 

1912,  5o7o;  1913,  40%. 
Assets,  1906,  $1,111,710. 
Market  value  of  stock,  $675. 

CONTINENTAL  OIL  CO. 

Capital  stock,  $3,000,000.    Par  $100. 

Dividends,  1913,  166%;  1906,  135%;  1912,  70%  (on  capi- 
tal of  $300,000,  which  ivas  increased  to  $3,000,000  in 
19 1 3  by  stock  dividend  of  900%. 

CRESCENT   OIL   CO. 

Capital,  $3,000,000.     Par  $50. 

Dividends,  1906,  $800,000;  1912,  10%;  1913,  12%. 

Assets,  $3,359-593;  surplus,  $331792- 

Book  value  of  stock.  $55  per  share. 

CUMBERLAND   PIPE   LINE   CO. 

Capital  stock,  $1,000,000.     Par  $100. 
Dividends,  1912,  6%;  1913,  6%. 
Assets,  $1,277,102;  surplus,  $151,765. 
Book  value  of  stock,  $125  per  share. 


118  STANDARD    OIL 

EUREKA  PIPE  LINE  CO. 

Capital  stock,  $5,000,000.    Par  $100. 

Dividends,  1903,  59%;  1906,  61%;  1912,  30%;  1913,  40%. 

Assets,  $10,904,145;  surplus,  $4,869,127. 

Book  value  of  stock,  $212  per  share. 

GALENA  SIGNAL  OIL  CO. 

Capital  stock,  $14,000,000,  com.  and  pref.    Par  $100. 
Dividends,  1912,  pref.  8%,  com.  16%;  1913,  pref.  8%,  com. 

16%.     {Com.  stock  increased  from  $8,000,000  to  $12,- 

000,000  by  50%  stock  dividend  in  1913.) 
Assets,  $16,653,237;  surplus,  $4,882,009. 
Market  value  of  stock,  com.  $186;  pref.  $135  per  share. 

INDIANA    PIPE   LINE   CO. 

Capital  stock,  $5,000,000.    Par  $50. 

Dividends,    1903,   76%;    1906,   43.6%;    1912,   28%;    1913, 

32%. 
Assets,  $7,322,435;  surplus,  $1,315,058. 
Book  value  of  stock,  $69  per  share. 

NATIONAL  TRANSIT   CO. 

Capital  stock,  $12,727,572.    Par  $25. 

Dividends,  1903,  $2,545,000;  1906,  $5,090,000;  1912,  12%; 

1913,  12%. 
Assets,  $14,997,996;  surplus,  $1,665,465. 
Book  value  of  stock,  $28  per  share. 

NEW  YORK  TRANSIT  CO. 

Capital,  $5,000,000.    Par  $100. 

Dividends,  1903,  $3,950,000;  1906,  $2,100,000;  1913,  40%; 

1913,  40%. 
Assets,  $11,719,820;  surplus,  $5,029,864. 
Book  value  of  stock,  $221  per  share. 


OR    THE    PEOPLE  119 

NORTHERN   PIPE  LINE  CO. 

Capital  stock,  $4,000,000.    Par  $100. 

Dividends,  1903,  $80,000;  1906,  $2,000,000;  1912,  5%;  1913, 

Assets,  $1,277,102  (on  capital  of  $1,000,000). 
Book  value  of  stock,  $110  per  share. 

OHIO    OIL    CO. 

Capital  stock,  $15,000,000.     Par  $25. 

Dividends,   1903,  $1,200,000;    1906,  $320,000;    1912,  20%; 

1913.  57%- 
Assets,  $65,587,971 ;  surplus,  $49,225,412. 

Book  value  per  share,  $107. 

PRAIRIE  OIL  AND  GAS  CO. 
Capital  stock,  $18,000,000.    Par  value  $100. 
Dividends,  191 1,  23%;  1912,  25%. 
Assets,  $65,431,700;  surplus,  $37,217,688. 
Book  value  of  stock,  $306  per  share. 

SOLAR  REFINING  CO. 

Capital  stock,  $2,000,000.    Par  value  $100. 

(Capital  increased  from  $500,000  in  191 3  by  300%  stock 

dividend.) 
Dividends,  1903,  270%  ;  1906,  70%. 
Assets,   $3,717,826;    surplus    (on   old   capitalization),   $3,- 

012,170. 
Book  value   of   stock    (on   old   capitalization),   $702    per 

share. 

SOUTHERN   PIPE  LINE   CO. 

Capital  stock,  $10,000,000.    Par  value  $100. 

Dividends,    1903.  $600,000;    1906,  $4,600,000;    1912,   28%; 

1913,  32%. 
Assets,  $13,620,589;  surplus,  $2,997,443. 
Book  value  of  stock,  $135  per  share. 


120  STANDARD    OIL 

SOUTH   PENN   OIL   CO. 

Capital  stock,  $12,500,000.    Par  value  $100. 

Dividends,  1906,  173%;  1912,  30%;  1913,  stock  dividends 

of  $7,500,000. 
Assets,  $17,572,002;  surplus  on  old  capitalization,  $13,908,- 

286. 
Book  value  of  stock  (old  capitalization),  $626.33  per  share. 

SOUTH   WEST   PENN   PIPE  LINE   CO. 

Capital,  $3,500,000.    Par  value  $100. 
Dividends,  1906,  12%;  1912,  20%;  1913,  20%. 
Assets,  $5,019,103;  surplus,  $1,133,954. 
Book  value  of  stock,  $145  per  share. 

STANDARD   OIL   CO.    OF   CALIFORNIA. 

Capital  stock,  $44,933,994 ;  increased  from  $25,000,000  July 

1912.    Par  $100. 
Dividends,  1912,  stock  increase  and  $1,123,350;  1913,  10%. 
Assets,  $67,315,903;  surplus,  $20,196,002. 
Book  value  of  stock,  $145  per  share. 

STANDARD    OIL   CO.    OF   INDIANA. 

Capital  stock,  $30,000,000.    Par  $100. 

(Capital  increased  from  $1,000,000  by  2,900%  stock  divi- 
dend in  19 1 2.) 
Assets,  1906,  $27,502,090.     Dividends,  1913,  32%. 

STANDARD   OIL  CO.   OF  KANSAS. 

Capital  stock,  $2,000,000.    Par  $100. 

(Capital  increased  from  $1,000,000  in  1913  by  stock  divi- 
dend of  100%. ) 

Dividends,  1906,  135%;  1913,  40%- 

Assets,  $2,321,921;  surplus,  $1,088,579  on  capital  of  $1,- 
000,000. 

Market  value  of  stock,  $485  per  share. 


OR    THE    PEOPLE  121 

STANDARD    OIL    OF    KENTUCKY. 

Capital  stock.  $3,000,000.     Par  $100. 

{Capital  increased    1914  />'<5w  $1,000,000   by  200%   divi- 
dend.) 
Dividends,  1903,  100%;  1906,  200%. 
Assets,  $5,105,355;  surplus,  $2,799,253. 
Book  value  of  stock,  $433-34  per  share. 

STANDARD  OIL  CO.  OF  NEBRASKA. 

Capital  stock,  $1,000,000.     Par  $100. 

{Capital  increased  from  $600,000  by  662-3%  dividend  in 

igi2  and  1913.) 
Dividends,  1912,  20%;  1913,  30%. 
Market  value  of  stock,  $480  per  share. 

STANDARD   OIL   CO.   OF   NEW  JERSEY. 

Capital  stock,  $98,338,382.     Par  $100. 

Dividends  1889  to  1894,   12%;  1895,  17%;   1896  to  1912, 

from  21  to  48%. 
Cash  dividend  of  $39,335,320  distributed  1913,  besides  20%. 
Market  value  of  stock,  $427  per  share. 

STANDARD   OIL  CO.   OF   NEW   YORK. 

Capital  stock,  $75,000,000.     Par  $100. 
{Mapital  increased  from  $15,000,000  in  191 3  by  400%  div- 
idend.) 
Dividends,  1903,  70%;  1906,  10%. 
Assets,  $94,191,328;  surplus,  $59,386,338. 
Market  value  of  stock,  $187  per  share. 

STANDARD    OIL    OF    OHIO. 

Capital  stock,  $3,500,000.     Par  $100. 
Dividends,  1912,  5%;  1913.  20%. 
^larket  value  of  stock,  $445  per  share. 


122  STANDARD    OIL 

SWAN   AND   FINCH. 

Capital,  $500,000.    Par  $100. 

(Capital  increased  1912  from  $100,000  stockholders  sub- 
scribing at  par.) 
Dividends,  1903,  65%;  1906,  90%. 
Assets,  $1,279,662.    Market  value  of  stock,  $280  per  share. 

UNION    TANK   LINE    CO. 

Capital,  $12,000,000.    Par  $100. 

Assets,  $12,074,326. 

Market  value  of  stock,  $97  per  share. 

VACUUM   OIL  CO. 

Capital  stock,  $15,000,000.     Par  $100. 

(Capital  increased  from  $2,500,000  in   1912  stockholders 

subscribing  at  par  for  Hve  times  their  holdings.     Stock 

selling  at  $218.) 
Assets,  $31,998,058;  surplus,  $14,675,276. 

WASHINGTON   OIL  CO. 

Capital  stock,  $100,000.    Par  $100. 

Dividends,  191 1,  29%;  1913,  40%;  1913,  80%. 

Assets,  $164,920.    Market  value  of  stock,  $162  per  share. 

WATERS-PIERCE   OIL    CO. 

Capital,  $10,500,000.    Par  $100. 

(Capital  increased  from  $400,000  m  1913  by  stock  dividend 

of  2,625%.     Standard   Oil   ozvned   2,747   out   of  4,000 

shares  of  original  capital.) 
Assets,  191 1,  $8,487,348;  surplus,  $6,067,962. 


OR    THE    PEOPLE  123 


DIRECT  OIL  TRUST  HOLDINGS  AS  DIS- 
CLOSED BY  COURT  RECORDS. 

Prior  to  the  "dissolution"  of  the  oil  trust  in  1912,  the 

Standard  Oil  Co.  of  New  Jersey  controlled  the  following 
companies  through  stock  ownership: 

NAME 

Total  capital  stock. 

Bedford    Petroleum    Co $350,000 

Carter   Oil   Company 2,000,000 

Clarksburg  Light  &  Heat   Co 100,000 

Deutsche-Amerikanische       Petroleum       Gesell- 

schaft   2,250,000 

Deutsche-Amerikanische       Petroleum       Gesell- 

schaft  (Share  Warrants) 5,250.000 

Empreza  Industrial  de  Petrolio 500,000 

Empire   Refining   Co 100,000 

Forest   Oil   Co 

Gilbert  &  Barker  Mfg.  Co 40,000 

Hazelwood  Oil  Co 

Hope  Natural  Gas  Co 500,000 

Interstate  Coperage  Co 200,000 

Lawrence  Natural  Gas  Co 450,000 

Mahoning  Gas  Fuel  Co 150,000 

Marion   Oil  Co 100,000 

Mountain  State  Gas  Co 500,000 

Northwestern  Ohio  Nat.  Gas  Co 2,775,250 

People's  Natural  Gas  Co 1,000,000 

Pennsylvania    Lubricating    Co 50,000 

Pittsburgh  Natural  Gas  Co 310,000 

Romana   Americana 2,500.000 

Reserve  Gas  Co 2,225,000 

Raffinerie    Francaise 80,000 

River  Gas  Co 100,000 

Underhay  Oil  Co 25,000 

United  Oil  Co 

West  India  Oil  Refining  Co 300,000 

West  Virginia  Oil  Co 200.000 

West   India   Oil    Co 100,000 

Amerikanische    Petroleum   Anlagen 187,500 


124  STANDARD    OIL 

Automat  Co 10,000 

Eschweiler  Petroleum  Import 7,5^0 

Ghent  Petroleum  Co 300,000 

Hollandische  Petroleum  Vereeniging 12,000 

Mannheim    Bremer    Petroleum    Actien    Gesell- 

schaft    750,000 

Petrolifere   Ghent 20,000 

Petrolif ere   Nationale 10,000 

Petroleum  Raff,  vorm  August  Korff 375>ooo 

Societe  Anonyme  H.  Reith  Co 412,500 

Rheinische  Petrol.  Action  Gesellschaft 250 

Street    Tank    Wogan    Business — Duren 4*250 

Actien  Gesellschaft  Atlantic 287,500 

American  Petroleum  Co 3,140,000 

Gibraltar  Petroleum  Co 25,000 

Imperial  Oil  Co.,  Ltd 4,000,000 

Det  Danske  Petroleum  Aktieselskab 756,000 

Tide  Water  Oil  Co 20,000,000 

Tank  Storage  and  Carriage  Co.,  pfd 300,000 

Tank  Storage  and  Carriage  Co.,  Ltd.,  ordinary..  42,i95 

Societa   Italo-Americana  pel   Petrolio 1,000,000 

Aktieselskabet  Ostlandske  Petrol.  Cie 162,000 

Krooks  Petrol  and  Olje  Aktiebolag 270.000 

Skanska  Petroleums  Aktiebolaget l35.ooo 

Svenska  Petroleums  Aktiebolaget 27,000 

Sydenska  Petroleums  Aktiebolaget 98,550 

Vestkustens  Petroleums  Aktiebolag I77»500 

Koenigsberger  Handels  Co 575.000 

Petroleum  Import  Co 80,000 

Schweizerische  Petroleum  Handels  Gesellschaft  60.000 

Societe  Anonyme  Petrolea 80,000 

Wachs  &  Flossner  Petrol.  Gesellschaft 25,000 

Westphalische   Petroleum  Gesellschaft 25,000 

Queen  City  Oil  Co.,  Ltd 200,000 

Connecting     Gas   Co 825,000 

East  Ohio  Gas  Co 6,000,000 

Franklin  Pipe  Line  Co 50,000 

New  Domain  Oil  and  Gas  Co 1,000,000 

St.  Paul  Pet.  Tanks 250,000 

Societa  Meridionale  pel  Commercio  del  Petrolio  120,000 

Societa  per  gli  OH  Mineral 156.000 

Societe  Tunisienne  des  Petroles 80,000 

International  Oil  Co.,  Ltd 2,750,000 

Total   $66,930,995 


OR    THE    PEOPLE  .  125 

Known  holdings  acquired  since   1906: 

Standard  Oil  Co.  of  Louisiana $5,000,000 

Standard  Oil  Co.  of  Brazil 500,000 

Oklahoma  Pipe  Line  Co 5,000,000 

Capitalization  increase  of  Imperial  Oil  Co.,  Ltd., 
additional  to  above 1 1,000,000 

Grand  Total $88,430,995 


126  ,  STANDARD    OIL 


PRINCIPAL  STOCKHOLDERS  IN  STANDARD  OIL 

BEFORE  THE  GOVERNMENT  "DISSOLUTION" 

SUIT  WAS  BROUGHT,  AUG.  19,  1907 

Shares 

John  D.  Rockefeller 247,692 

H.  M.  Flagler 30»5oo 

Wm.  Rockefeller 11,700 

J.   D.  Archbold 6,000 

H.  M.   Hanna 4,000 

Est.  of  John  Huntington 6,500 

Est.   Josiah  Macy 4j9oo 

O.  H.  Payne 40,000 

Est.  Chas.  Pratt 52,802 

C.  M.  Pratt 5,000 

H.  H.  Rogers 16,020 

L.  H.  Severance 7,400 

Est.  Wm.  G.  Warden 5,858 

C.  W.  Harkness 43,4oo 

L.  V.  Harkness 13,100 

Wm.  L.  Harkness 14,000 

Est.  H.  H.  Houston ii,775 

Helen  C.  Bostwick 6,048 

V.  Everit  Macy 7,300 

Total,  19  shareholders 523,985 

Total  stock  outstanding 983,383 

Percent  held  by  above 53^^ 

OTHER  LARGE  SHAREHOLDERS  IN  STANDARD 

OIL,  AUG.   19,   1907. 

Kate  Ladd 2,076 

W.  G.  Ladd 350 

Est.  D.  H.  McAlpin 1,400 

Alexander  McDonald 3,374 

H.  C.  Folger,  Jr 2,125 

Est.   Daniel  O'Day 2,655 

Chas.  Pratt  &  Co 1,312 

W.  T.  Scheide 1,000 


OR    THE    PEOPLE  127 

Joseph  Seep i  .600 

W.  P.  Thompson 2.725 

Elmira  D.  Brewster 2,240 

F.  F.    Brewster 2,640 

G.  S.  Brewster 2,565 

R.  S.  Brewster 2,540 

Est.  W.  V.  Brokaw 3,395 

F.  Bostwick  Carstair  (trust ) 1,500 

C.  M.  Chapin 2,184 

C.  A.  Griscom 3.000 

Chas.  B.  Hogg 1,225 

Mary  B.  Jennings 2,600 

John  S.  Kennedy 3.000 

E.  T.  Bedford 3.300 

Est.  H.  R.  Bishop 1,598 

A.  C.  Bostwick   (trust) 1,500 

A.  F.  Bostwick   (trust) 2,217 

A.  F.  Bostwick   (trust) 500 

H.  C.  Bostwick  and  others 2,217 

H.  C.  Bostwick  and  others 2,217 

H.  C.  Bostwick  and  others 2,217 

C.  F.  G.  Heye 2,514 

Est.  A.  J.  Pouch 500 

W.  T.  Wardwell 750 

JuHa  H.  York 1,600 

Emma  B.  Auchincloss 2,366 

Annie   B.   Jennings 2.373 

Esther  Jennings 5oOO 

OHver  G.  Jennings 2,300 

Walter  Jennings 2,550 

Walter  J.  James 2,373 

Wesley  H.  Tilford 6,000 

Catharine   X.  Tilford 600 

J.  H.  Esmar 2,578 

T.  H.  Wheeler 1.375 


128 


STANDARD    OIL 


MONOPOLIES  CONTROLLED  BY  STAND- 
ARD OIL. 


PETROLEUM 

OIL 

GAS 

KEROSENE 

TURPENTINE 

NATURAL  GAS 

GASOLINE 


VASELINE 
CARBON  PAPER 
LUBRICATING  OIL 
PARAFFINE 
CRUDE  OIL 
BENZINE 
NAPTHA 


AND  200  OTHER  BY-PRODUCTS  OF  OIL. 


OTHER    MONOPOLIES    IN    WHICH    STANDARD 
OIL  MONEY   IS   LARGELY  INVESTED. 


Railroads 

Alcohol 

Steam    Pumps 

Banks 

Rubber 

Typewriters 

Insurance 

Leather 

Telephone 

Coal 

Print  Paper 

Telegraph 

Steel 

Public   Service 

Matches 

Iron 

Corporations 

Real   Estate 

Copper 

Glue 

Grain 

Lead 

Mica 

Tin 

Zinc 

Automobiles 

Cement 

Ships 

Rubber  Tires 

Ice 

Lumber 

Express 

Chewing  Gum 

Water  Power 

Companies 

Shoe    Machinery 

Sugar 

Gunpowder 

Ammonia 

Tobacco 

Ammunition 

Sulphuric    Acid 

Electricity 

Candy 

Washing  Powder 

Coal  Products 

Glucose 

Soap 

Agricultural    Im- 

Eggs 

White  Lead 

plements 

Milk 

Oil  Cloth 

OR   THE    PEOPLE 


129 


Linseed  Oil 

Coke 

Threshing  Machines 

Cotton  Seed  Oil 

Paving  Blocks 

Creosote 

Reaping  Machines 

Plough 

Putty 

Benzol 

Salt 

Coal  Tar 

Lard 

Bread 

OTHER  MONOPOLIES  THAT  AFFLICT  THE 

PEOPLE. 


Woolens 

Furniture 

Wooden  Ware 

Earthen  Ware 

Glassware 

Oatmeal 

Cereals 

Brick 

Dry  Goods 

Knit  Goods 

Canned  Goods 

Fish 

Biscuits 

Carpet 

Dental  Supplies 


Marble 

Silverware 

Olive  Oil 

Peanuts 

Nickel 

Shoes 

Sewing  Machines 

Elevators 

Rope  and  Twine 

Car  Wheels 

Palace  Cars 

Terra  Cotta 

Pianos 

Wringers 

Wall  Paper 


Sandstone 

Writing  Paper 

Clothing 

Diamonds 

Beer 

Carpets 

Fruit 

Flour 

Drugs 

Straw  Board 

Stoves 

Paving  Pitch 

Watches 

Clothes 

Coffins 


130  STANDARD    OIL 


STANDARD    OIL   CO.    IS    ASKED    TO    HELP 

START   NEW   CITIES  TO   DRAW   OFF 

THE  SURPLUS  OF  POPULATION 

FROM  NEW  YORK. 

April  2,   1914. 
Mr.  Henry  C.  Folger,  Jr., 

President  Standard  Oil  Company  of  New  York. 
Dear  Sir: 

Following  my  conversation  on  Tuesday  last  with  your 
secretary,  Mr.  Welsh,  I  herewith  submit  my  proposal  in 
writing  as  he  suggested. 

The  present  period  of  business  depression  makes  it 
apparent  that  there  are  too  many  people  clustered  in 
New  York  City  for  comfort  or  for  safety.  Under  the 
economic  change  that  is  going  on,  a  large  part  of  the 
population  is  unable  to  obtain  steady  employment  and 
their  subsistence  is  precarious.  At  the  rate  of  growth 
during  the  past  fourteen  years  (140,000  a  year),  the 
city  will  have  a  population  of  7,000,000  in  ten  years. 
This  is  more  than  has  been  massed  together  on  an  area 
the  size  of  New  York  City  at  any  other  time.  Rome 
never  had  more  than  1,500,000  within  its  borders. 

So  far  as  transportation  is  concerned,  New  York  can 
accommodate  such  a  population  with  only  slight  incon- 
venience, the  objectionable  period  of  traffic  being  the 
"rush  hours."  Under  present  market  facilities.  New 
York  can  he  provisioned  for  only  two  days  at  a  time. 
With  a  million  and  a  half  more  persons  to  feed,  the  prob- 
lem of  subsistence  will  be  acute  even  though  market  facil- 
ities are  enlarged  to  meet  the  increase  in  population.  The 
cost  of  living  is  high  now  because  there  are  too  many 
persons  to  be  fed  in  this  city  and  because  the  volume  of 


OR    THE    PEOPLE  131 

farm  products  is  diminishing,   as  well  as  for  other   rea- 
sons. 

The  future  holds  little  prospect  for  the  average  work- 
man in  New  York  City  beyond  an  occasional  period  of 
employment  and  hardship  the  rest  of  the  time.  This  con- 
dition will  become  aggravated  as  the  population  increases. 
While  the  question  of  housing  and  transportation  may  be 
solved,  the  problem  of  employment  and  subsistence  is  left 
to  chance  or  good  fortune  for  the  bidk  of  those  who  are 
always  on  the  borderline  of  poverty  through  limited  earn- 
ings and  because  their  employment  is  subject  to  economic 

change. 

A  million  and  a  half  more  population  will  jam  every 
available  city  lot  along  the  new  subway  lines.  New  York 
City  will  be  a  community  of  tenements  and  lofty  apart- 
ment houses  and  will  present  a  spectacle  never  parallelled. 
Such  a  congested  condition  is  pregnant  of  great  danger 
because  from  one  to  ten  per  cent,  of  the  working  popu- 
lation is  always  out  of  employment.  In  Rome,  the  slaves 
who  outnumbered  the  freedmen  three  to  one  during  the 
period  of  greatest  congestion,  overran  the  community  and 
pillaged  repeatedly  for  food  and  other  subsistence. 

There  are  at  least  100,000  persons  in  New  York  City 
to-day  who  would  be  glad  to  leave  if  they  saw  a  chance 
for  steady  employment  and  brighter  prospects  elsewhere. 
This  includes  workmen  of  all  trades  and  many  business 
people.  There  are  many  large  firms  who  would  be  glad 
to  leave  the  city  with  their  workmen  if  they  were  assured 
of  lower  rent  and  taxes  and  if  their  workmen  could  be 
comfortably  housed.  /  am  informed  that  4,000  business 
firms  have  left  New  York  City  during  the  past  few  years. 

There  are  at  least  100,000  young  men  and  women  who 
would  be  married  within  a  week  if  the  prospects  for  the 
future  were  improved.  Most  of  these  see  a  hopeless  con- 
dition in  New  York  City.  In  emphasizing  this  point  I 
call  your  attention  to  the  numerous  marriages  that  fol- 
lowed the  increase  in  pay  of  Ford  employes. 


132  STANDARD    OIL 

A  new  city  with  an  ultimate  population  of  500,000 
could  be  developed  around  a  dozen  manufacturing  plants. 
Business  of  all  sorts  such  as  now  exists  in  any  large  city 
would  grow  up  and  there  would  be  a  continuous  influx 
of  newcomers  and  no  cessation  of  activity  for  many  years. 

Those  who  live  in  large  cities  do  not  leave  them  to  go 
elsewhere  except  to  improve  their  circumstances.  Resi- 
dents of  New  York,  no  matter  how  poor,  would  not  go  to 
Buffalo  or  Rochester  unless  they  were  assured  of  em- 
ployment or  financial  aid  when  they  got  there.  They 
would  be  worse  off  in  another  city  than  their  own,  with- 
out employment  and  without  means  of  subsistance. 

Provide  them  with  the  opportunity  for  industry  and 
advancement  in  a  NEW  city  and  my  judgment  is  that 
nothing  would  restrain  them  from  going.  They  would 
go  in  groups  and  make  the  best  of  conditions  until  the  city 
developed. 

If  such  a  city  were  laid  out  it  could  be  developed  on  a 
new  basis.  If  the  land  were  purchased  for  the  munici- 
pality, it  could  be  leased  to  the  people  in  lieu  of  taxes. 
The  rental  would  be  only  nominal,  each  new  inhabitant 
adding  to  the  value  of  the  land  which  originally  had  little 
value.  Money  advanced  for  the  purchase  of  the  land 
along  one  of  the  principal  railroads  running  out  of  the 
city,  would  be  amply  secured  by  a  mortgage  which  could 
be  paid  off  gradually. 

The  public  utilities  such  as  gas,  electric  light  and 
transportation,  could  be  constructed  with  borrowed  money 
and  bonded.  There  could  be  no  safer  investment  than 
public  utilities  bonds  protected  by  the  income  from  such 
property.  In  every  city  to-day  earnings  of  public  utilities 
are  made  to  provide  dividends  on  stocks  as  well  as  in- 
terest on  bonds. 

There  need  be  no  waste  from  politics  or  mismanage- 
ment in  a  city  such  as  described,  the  director  of  the  com- 
munity being  appointed  by  the  bondholders  and  those  who 
hold  the  mortgage,  to  properly  administer  the  affairs  of 


OR    THE    PEOPLE  133 

the  community — such  power  of  appointment  to  be  lodged 
only  until  bonds  and  mortgages  are  paid  off. 

In  such  a  community  rent  would  be  low.  Those  who 
own  large  business  plants  would  save  many  thousands  of 
dollars  annually  in  reduced  taxes.  At  the  present  time 
taxation  in  most  large  cities  is  exorbitant.  This  fact 
adds  greatly  to  the  high  cost  of  living. 

There  is  room  for  500,000,000  more  people  in  the 
United  States  if  properly  distributed.  There  should  be 
more  cities  of  moderate  sine  established,  and  these  would 
draw  off  part  of  the  population  of  the  largest  cities. 
Farming  would  develop  around  these  new  cities  and  the 
food  problem  would  be  partly  solved.  All  large  cities  are 
now  menaced  by  a  scarcity  of  food  and  by  the  high  cost 
of  provisions. 

My  reason  for  submitting  this  proposition  to  Standard 
Oil  to  provide  capital  for  the  purchase  of  land  and  the 
construction  of  public  utilities  in  the  new  city  is  that 
Standard  Oil  is  interested  in  utilities  investments  in  most 
large  cities  and  knows  the  security  of  such  venture.  An- 
other reason  is  that  Standard  Oil  has  capital  to  invest  in 
any  fair  project  that  offers  a  safe  return  on  money  in- 
vested. 

Such  new  city  as  I  propose  would  relieve  social  and 
economic  hardship  in  New  York  City,  and  the  experiment 
would  be  followed  in  other  countries  as  well  as  in  the 
United  States.  A  new  form  of  city  government  would 
develop  for  the  next  fifty  years  (as  long  as  the  bonds  sur- 
vive), after  which  these  new  cities  ivould  be  free  from 
debt  and  prosperous. 

I  trust  that  Standard  Oil  will  see  in  this  proposition 
a  solution  of  the  hardship  of  present  conditions  in  most 
large  cities  and  a  restoration  of  living  conditions  through- 
out the  country. 

With  thanks  for  your  consideration,  I  am. 

Very  truly  yours, 

HENRY  H.  KLEIN. 


134 


STANDARD    OIL 


ONE     HUNDRED     FAMILIES     WHO     OWN 

HALF  THE  WEALTH   IN  THE  UNITED 

STATES  AND  CONTROL  THE 

FATE  OF  THE  BALANCE. 


ROCKEFELLER 

CARNEGIE 

HILL 

GUGGENHEIM 

ASTOR 

VANDERBILT 


DOLAN 

BENEDICT 

BOURNE 

SELIGMAN 

SLOAN 

SPEYER 


WEYERHAUSER  BERWIND 


MORGAN 

HARRIMAN 

RYAN 

DUKE 

ARMOUR 

FRICK 

PHIPPS 

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